Politics & Government

Delegate Ready Seeks Business Tax Relief in Upcoming Session

Delegate Justin Ready said he will re-introduce legislation to reduce the corporate tax rate.

Delegate Justin Ready, R-Carroll, announced that he would be filing legislation in the 2013 Legislative Session to reduce Maryland's corporate tax rate from 8.25 percent to its 2007 level of 7 percent.

"Members of both parties and independent economists agree that Maryland's high business tax is making us less competitive," Ready said in a statement. "We must do more to promote private sector job growth in our state."

Ready said it's vital that the state of Maryland focus on creating private sector jobs.

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“Maryland is perhaps the state with the most to lose from federal government cuts and retrenchment in defense spending. The way to fortify against that possibility is to do everything we can to create jobs in the private sector," Ready said. "Reducing the corporate tax rate slightly will help to do that, and in a way that will not dramatically affect next year's budget," Ready continued. "In fact, as businesses succeed in Maryland, state revenue will grow."


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