Maryland GOP Gov. Candidate Announces Tax Cut Plan
ANNAPOLIS, Md. — Harford County Executive David Craig is announcing a major tax cut proposal as part of his campaign for the Republican nomination in the governor’s race in Maryland.
Craig said Tuesday he would phase in an income tax reduction with an eye toward eventually eliminating it.
He says the first phase would take effect in 2016. That’s when Craig would seek to lower state income taxes to 4.25 percent for all earners. Current tax brackets go as high as 5.75 percent.
Craig says after monitoring the effects on revenues and working to save money in the budget, he would push to reduce income taxes to a flat 3 percent before phasing the tax out entirely.
Craig says under his plan, the state could afford the tax cuts largely through budget reforms.
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