Hogan Proposes Legislation To Mitigate Tax Plan's Downside For Marylanders

As the Republican tax package cleared Congress, Gov. Larry Hogan on Wednesday announced a proposal to lessen its impact on Marylanders.

The tax reform plan doubles the standard deduction but limits deductions for state and local taxes, mortgage interest, moving expenses, alimony and disaster losses. The legislation proposed by Maryland's Republican governor would return any additional revenue the state receives from taxpayers hurt by the changes to deductions and exemptions.

On Tuesday, he said Comptroller Peter Franchot's office is still in the process of analyzing the bill's impact on Maryland.

“However, it is very clear that due to the loss of several longstanding federal tax deductions and exemptions, Maryland state revenue will likely increase by hundreds of millions of dollars," Hogan said at Wednesday's meeting of the Board of Public Works in Annapolis. "Our goal will be to leave that money in the pockets of hardworking Marylanders."