Today I introduced the RELIEF Act of 2021, an emergency package that will provide more than $1 billion in direct stimulus and tax relief for struggling Marylanders and small businesses.
Details: governor.maryland.gov/2021/01/11/gov…
Details: governor.maryland.gov/2021/01/11/gov…
The RELIEF Act provides direct stimulus payments for low-to-moderate income Marylanders, with benefits of up to $750 for families and $450 for individuals who file for the Earned Income Tax Credit. This relief will directly help more than 400,000 Marylanders.
Additionally, this legislation repeals all state and local income taxes on unemployment benefits, providing further support and assistance for Marylanders who have lost their jobs.
It also supports small businesses by providing $300 million in sales tax credits, extending unemployment tax relief through 2021, and safeguarding against any tax increase triggered by the use of state loan or grant funds.
The RELIEF Act will be introduced as emergency legislation on day one of the legislative session. We will ask both houses of the legislature to act on it immediately so that I can immediately sign it into law and we can immediately get these much-needed dollars out the door.
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