ANNAPOLIS, Md.- Maryland Gov. Larry Hogan campaigned on cutting taxes and said he intends to keep that promise. It is a promise Del. Johnny Mautz, R-37B-Talbot, says will benefit the state, and the people of Maryland.
"Maryland currently uses targeted tax incentives in a number of industries," said Mautz. "Biotech is one. We're one of the leaders in the country in biotech because of tax incentives. Let's do that in more areas within our governmental regime and reap the benefits,"
Hogan hasn't unveiled all the details of his tax breaks, he says those will come when he unveils his proposed budget.
Democrats like Speaker of the House Michael Busch are concerned where the money is coming from, particularly if it cuts into education. Del. Sheree Sample-Hughes, D-37A-Wicomico, is also curious where the money would come from.
"We want to ensure that's it's done in an equitable form. But we want to make sure that we're not negating the other responsibilities that we have to provide tax credits,which are good in some form or fashion, but at the same time, where's the money coming from?" asked Sample-Hughes. "I don't want to see large projects like K-12 education or higher education buildings go unfunded because there might be some tax credits."
But Republicans insist the credits can be paid for.
"The revenue projections are up," said Del. Carl Anderton, R-38B-Wicomico. "We ended up with a $400 million surplus out of the budget, so we're going to return it back. That's the point. You can only use the money you need, and if you have anything left over you give it back. It's not ours. We give it back."
Hogan is expected to unveil his budget next week