Push for Md. tax relief has two key backers: Miller and Busch – Washington Post
Maryland House Speaker Michael E. Busch (D-Anne Arundel) and Senate President Thomas V. Mike Miller Jr. (D-Calvert) have agreed that the state needs to reduce taxes in order to compete for businesses, but they appear divided over whether the state should reduce corporate tax rates.
Both legislative leaders testified Wednesday in support of bills they proposed to provide tax relief for businesses, telling Senate and House fiscal committees that the measures will help attract and retain private-sector employers.
But Miller has proposed a bill to reduce the corporate income-tax rate from its current 8.25 percent to 7 percent. Busch has proposed no such legislation. He did not address corporate rates during his testimony, and his office did not respond to a request for comment on the matter.
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Benjamin Orr, executive director of the liberal-leaning Maryland Center on Economic Policy, warned lawmakers that tax cuts for businesses could negatively impact public investments such as education and transit spending.
“Businesses in Maryland already get a great return on investment with the value of the services they receive,” he said.
