Hogan optimistic legislation to boost manufacturing tax credits will pass – Baltimore Business Journal
A bill aimed at expanding Maryland’s manufacturing industry using accelerated depreciation and tax incentives has made its way through the Senate.
SB 317, or the More Jobs for Marylanders Act of 2017, passed with amendments on March 23, and only Sen. Roger Manno opposed the bill. The legislation is now pending a vote in the House of Representatives expected to take place this week, and a cross filed bill, HB 394, has yet to be voted on.
The bill has been met with some opposition, namely from the nonprofit Maryland Center on Economic Policy, which submitted written testimony to the House and the Senate on why the bill should not be passed.
The nonprofit’s executive director, Benjamin Orr, feels that the tax incentives give some companies an unfair advantage, overlap with previous initiatives, do little to actually create jobs and force cuts to investments in education, transportation and safety.