Emergency Legislation Provides More Than $1 Billion in Targeted Tax Relief and Economic Stimulus for Families and Small Businesses
ANNAPOLIS, MD (STL.News) Governor Larry Hogan signed the bipartisan RELIEF Act of 2021, which delivers more than $1 billion in tax relief and economic stimulus for struggling families and small businesses who are suffering as a result of the COVID-19 pandemic.
The governor was joined by Senate President Bill Ferguson, House Speaker Adrienne Jones, Senate Minority Leader Bryan Simonaire, House Majority Leader Eric Luedtke, House Minority Leader Nic Kipke, and Senate Budget and Taxation Committee Chairman Guy Guzzone.
Following are the governor’s remarks as prepared for delivery:
In a few moments, we will sign Senate Bill 496, the RELIEF Act of 2021, into law. This emergency legislation will immediately provide more than a billion dollars in urgently needed tax relief and economic stimulus for struggling Maryland families, small businesses, and those who have lost their jobs due to the global pandemic.
As a result of this bipartisan legislation, people who have lost their jobs will not have to pay any state and local income taxes on their unemployment benefits, letting them keep more money in their pockets.