Senate still grappling with tax bill that would have big impact in Maryland – The Baltimore Sun

By John Fritze

Senate Republicans were scrambling Thursday to lock down support for a major tax overhaul that could deliver President Donald J. Trump one of his first legislative victories while potentially cutting — or increasing — the taxes paid by nearly 3 million Marylanders.

Republican leaders, negotiating last-minute changes to secure votes from within their own ranks, appeared to have momentum on their side early in the day as they sprinted toward a final vote. But as the evening wore on, a compromise to appease deficit hawks appeared to break down — slowing progress.

The left-leaning Institute on Taxation and Economic Policy estimated last month that about 2.2 million Marylanders would receive a tax cut averaging about $2,000 under the plan and that roughly 612,000 people would receive a tax increase averaging $1,540. About three-quarters of people earning between $50,520 and $76,590 would get a cut of about $1,000.

Another 24 percent of people in that income range would receive an increase averaging $880, according to the analysis.

“It raises taxes on working families, puts health insurance out of reach for millions, and creates large deficits lawmakers can later use to justify damaging cuts,” Christopher Meyer, a research analyst with the Maryland Center on Economic Policy, wrote recently on the group’s website. “If this bill passes, it will do lasting harm to many Maryland families.”

Read the full article