Maryland’s unprecedented surplus grows by $1.6 billion, setting stage for renewed tax cut debate

Written By By Erin Cox.

Washington Post- Maryland’s already swollen bank accounts are expected to grow by $1.6 billion, state forecasters said Thursday, setting the stage for renewed debate on how to spend the state’s historic surplus.

Democrats have pushed extra funding for schools, child care and tax breaks on necessities such as diapers and medical equipment. Republicans have called for across-the-board tax breaks for retirees.

Leaders from both parties immediately rallied around plans to suspendthe state’s gas tax for a month, now that it’s clear Maryland can afford to forgo the roughly $100 million it would have generated for transportation projects.

Maryland’s projected surplus ballooned to $7.6 billion by the end of 2023, prompting bipartisan calls to send stimulus checks to state residents.

Read more at Washington Post.

Photo: (Katherine Frey/The Washington Post)