A Revenue Plan for World-Class Schools in Maryland
Smart reforms to our state’s revenue system can close loopholes placed there by special interests and provide the additional funds our schools need. Our tax code today includes several ineffective components that hold Maryland back from being the best state we can be. As a result, revenue growth generally does not keep up with our needs, and our tax responsibilities get distributed upside-down—allowing the wealthiest to avoid making the same contributions the rest of us do. If we clean up our tax code, we can afford to build a world-class public school system that will enable children across our state to thrive.
We can build a stronger, more equitable revenue system by taking three steps:
Clean up our tax code.
Close corporate tax loopholes that only benefit large, multi-state corporations and their shareholders so that these companies contribute to the services they rely on. Local Maryland businesses can’t take advantage of these tax gimmicks.
Remove special interest tax breaks.
Maryland gives away millions in business tax breaks, despite significant evidence that they do nothing to boost our economy.
Improve our upside-down tax system.
Restructuring Maryland’s income tax will enable us to raise significant revenue and reduce income taxes on most low- and middle-income Marylanders.