Annapolis, Md. – Today, Senate Democrats issued a report that found that 1 out of every 3 Maryland families will see a tax increase under Republicans’ tax plan.
“While Maryland families are anxiously waiting to see if this Republican Congress is going to raise their taxes, Governor Hogan has done nothing to protect them,” said Maryland Democratic Party Chair Kathleen Matthews. “As always, Governor Hogan is trying to dodge a tough issue, and as a result, he is failing to provide dynamic leadership on behalf of Marylanders at a critical time.”
Under the Republican tax plan:
• 904,000 Maryland households—more than 30 percent of all households—would face a tax increase.
• 1.4 million Maryland households would no longer be able to deduct their state and local taxes, with an average deduction of $12,931.
• The 959,390 Maryland households that deduct their mortgage interest payments would only be able to do so if their home was worth more than $801,000—nearly three times the average home value in Maryland of $272,400.
This report is not the only analysis to find disastrous results for Maryland families. The nonpartisan Institute on Taxation and Economic Policy found that it would raise taxes on over 30% of Maryland taxpayers with some families’ taxes increasing by more than $1,500.