Governor Wes Moore unveils a budget aimed at addressing Maryland’s $3 billion deficit through cuts and tax changes
Annapolis: Governor Wes Moore is tackling a big budget issue in Maryland. He just revealed his plan for 2026, and it’s a mix of cuts and tax changes.
Moore pointed out that Maryland is facing its worst fiscal crisis in two decades. He’s blaming the previous administration for overspending and not boosting jobs.
Before diving into cuts, he talked about investing in key areas like cybersecurity and healthcare. He also wants to boost public safety and policing.
Moore believes you can’t just cut or tax your way out of trouble. His budget aims to do both to get Maryland back on track.
He’s found about $2 billion in cuts by fixing inefficiencies and reducing some education and healthcare contributions. Some cuts might be deeper over time.
“We’ll invest in effective and sustainable programs,” he said. “But we’ll stop funding those that aren’t working.”
For the last billion, he’s proposing some tax changes to raise more revenue. He claims that 82% of Marylanders will either get a tax cut or see no change.
However, the wealthier 18% will see tax hikes. New brackets mean single filers making $500,000 or more will pay 6.25%, and those earning $1 million or more will pay 6.5%.
Moore is okay with paying a bit more for better schools and safer streets. He’s in that tax bracket too, so he’s speaking from experience.
Democrat David Moon mentioned some “sin taxes” in the budget, like increases on sports betting, cannabis, and emissions fees.
While Moore laid out his growth plan, Republicans are skeptical. They argue that taking more money from people won’t help.
Jason Buckel, the Republican House Minority leader, said it’s good that Moore is considering cuts, but raising taxes could drive businesses away.
The House of Delegates will now take a look at the budget as they work to navigate this fiscal crisis.
