Budget agreement could generate more than $1 billion in new revenue

Budget agreement could generate more than $1 billion in new revenue

Budget books for the fiscal 2025 budget proposed by Gov. Wes Moore (D). Photo by Bryan P. Sears.A compromise spending plan for the coming budget year includes more than $1 billion in tax increases, including a proposal to let local governments to increase the maximum local piggyback tax rate. The revenues were unveiled Thursday by the governor and legislative leaders as part of a broad budget “framework” that will guide negotiators in the next f…