Mizeur Proposes Tax Cuts and Hikes

Del. Heather Mizeur, a Democratic candidate for governor, laid out her proposal today to increase taxes on the wealthiest Marylanders, and cut the income tax for others.

Mizuer argues that by raising the income tax rate, primarily on individuals and families making more than $225,000 a year, it will create $10 million in additional revenue. The plan also calls for a rate decrease on individuals making $100,000 a year or less and for joint filers reporting $150,000 a year or less.

"Under a Mizeur administration, middle class workers will be paid more and taxed less," Mizeur said in a news release. "Maryland families need an economy that works for them. That means we prioritize workers and employers alike, making our communities great places to open businesses, and also places workers are proud to be part of."

Income tax rate proposals: 

Single Filers

Net Taxable Income/ProposedTax Rate/Net Taxable Income/2013 Tax Rate

$1-$1,000               2 percent             $1-$1,000              2 percent

$1,001-$2,000         3 percent              $1,001-$2,000         3 percent

$2,001-$3,000         4 percent              $2,001-$3,000         4 percent

$3,001-$50,000       4.30 percent          $3,001-$100,000      4.75 percent

$50,001-$100,000    4.50 percent          $100,001-$125,000   5 percent

$100,001-$150,000   5.25 percent          $125,001-$150,000   5.25 percent

$150,001-$500,000   5.75 percent          $150,001-$250,000   5.5 percent

$500,001 +             6.50 percent          $250,001+             5.75 percent

Joint Filers

Net Taxable Income/Proposed Tax Rate/Net Taxable Income/2013 Tax Rate

$1-$1,000               2 percent            $1-$1,000               2 percent

$1,001-$2,000         3 percent            $1,001-$2,000         3 percent

$2,001-$3,000         4 percent            $2,001-$3,000         4 percent

$3,001-$75,000       4.30 percent         $3,001-$150,000      4.75 percent

$75,001-$150,000    4.50 percent         $150,001-$175,000   5 percent

$150,001-$225,000   5.25 percent         $175,001-$225,000    5.25 percent

$225,001-$500,000   5.75 percent         $225,001-$300,000    5.5 percent

$500,001 +             6.50 percent         $300,001 +              5.75 percent