State Sen. Justin Ready, R-District 5 (Carroll County) on Friday introduced a bill that would reduce Maryland income taxes by .25 percentage points for every taxpayer, according to a news release from his office.
“(Senate bill 951) is a modest but broad-based tax cut that would let hard-working Marylanders keep more of the money they've earned while increasing our state's tax competitiveness," Ready said, according to the release. “Hard-working Marylanders do not deserve to suffer from onerous tax rates.”
Marylanders who file as individuals and make from $3,000 to $100,000, or those who are married and file jointly making from $3,000 to $150,000, currently pay at a 4.75 percent tax rate. Under Ready’s bill, their rates would drop to 4.5 percent.
Most Republican senators signed on as co-sponsors for Ready’s legislation. No Democrats have co-sponsored the bill. There are 32 Democratic Senators, compared to 15 Republicans.
Ready’s bill is a cross-file of a House bill 854, which is “a centerpiece of the House Republican Caucus' legislative agenda,” according to the release from the senator’s office.
If the bill passes the Senate, it is introduced in the House, assigned to a House Committee. The committee offers a recommendation before sending it back to the House floor where delegates vote to pass the bill into law. The bill would then go to the governor.