Democratic gubernatorial candidate Heather R. Mizeur is proposing an income tax cut for about 99 percent of Maryland taxpayers -- to be offset by a higher levy on those making $500,000 or more.
At a news conference in Annapolis Wednesday, Mizeur rolled out an economic plan that also calls for a minimum "living wage" that would reach $16.70 by 2022 and increased spending on jobs training for state workers.
Mizeur, a two-term delegate from Montgomery County, proposed stepping up collections of taxes from large multi-state companies while providing tax relief for small businesses.
The plan would not throw the state's finances out of balance, Mizeur said.
"This entire proposal is at worst revenue-neutral and at best generates significant revenues for the economy," she said.
Mizeur's proposal calls for an increase in the top income tax rate -- applied to income above $500,000 -- from 5.75 percent to 6.5 percent. Lower brackets would see offsetting decreases.
An earlier version of this post misstated the current tax rate for income above $500,000. The Sun regrets the error.