Dems eye targeted tax bumps post-revenue boom

The plans illustrate the trade-offs budget writers face with shrunken surpluses and slower revenue growth, analysts say.
A general view of the Maryland State House in Annapolis, Md., Friday, Oct. 25, 2013. Completed in 1779, it is the country’s oldest state capitol still in legislative use. (AP Photo/Patrick Semansky)

Democratic governors and lawmakers in states including Illinois, Maryland and New Jersey have proposed targeted tax increases this year to boost funding for transit, education and other priorities as the pandemic-era revenue boom ends.

With Maryland’s spending expected to outpace tax collections for the foreseeable future, “something’s got to give,” House Majority Leader David Moon (D) said.

Stay informed
Subscribe to keep reading.

Sign up today to get the latest state new at your fingertips and in your inbox.