BALTIMORE — Maryland families would be the nation's fourth largest beneficiary of President Donald Trump's proposed "Big Beautiful Bill."
This according to a Wednesday release from the White House providing a state-by-state breakdown of how American citizens would fare if the bill were to pass Congress.
The White House cites analysis from the Council of Economic Advisers, finding a typical family in Maryland with two children receiving $8,900 to $15,500 more in annual take-home pay, after-taxes.
As for long-run wage increases, the White House estimates that number being between $7,200 and $13,800, after inflation adjustments.
If those projections are proven true, Maryland would enjoy the fifth highest increase among all states.
To reach their conclusion, the Council of Economic Advisers calculated how tax cuts can lead to increased wages and investment, resulting in higher GDP due to lower statutory rates and larger pass-through business deductions.
The Administration claims the same method was used to accurately forecast Trump's 2017 Tax Cuts, which are set to expire later this year.
"President Donald J. Trump’s One Big Beautiful Bill will be an economic windfall for working and middle-class Americans, delivering the largest tax cut in history, higher wages, higher take-home pay, and much more — coupled with generational spending cuts and deficit reduction that will position the U.S. for real prosperity," says the White House.
Highlights of Trump's signature legislation include no tax on tips or overtime, and additional tax cuts for seniors.
The bill also bumps-up the child tax credit, and creates savings accounts for newborns.
Democrats oppose the bill, insisting it harms middle class families while helping millionaires.
Both parties have expressed concern about negative affects on government welfare programs like medicaid and food stamps.
Trump and company argue the bill would fortify them.
"It protects Medicaid for Americans who truly need it. This bill eliminates waste, fraud, and abuse by ending benefits for at least 1.4 million illegal immigrants who are gaming the system," the White House explained. "It implements popular work requirements for able-bodied Americans receiving taxpayer-funded benefits."
Here in Maryland government subsidies such as Social Security payments and veteran benefits total approximately $68.5 billion annually.
The federal deficit or debt ceiling is another major hurdle, with the Congressional Budget Office projecting a significant uptick.
Minutes after the White House released its figures, Maryland's Comptroller issued a report on how the President's policies have impacted the state economy.
The report focuses heavily on Trump's efforts to reduce the federal work force.
Maryland is currently home to approximately 229,000 federal employees, accounting for six percent of the state's overall employment and 10 percent of its overall wages, equating to $26.9 billion annually.
An additional $8.8 billion is paid out to 153,000 households living on federal retirement income.
Other economic factors revolve around federal contracts and grants, which Trump continues to claw back.
MORE: Federal government poised to cut Maryland funding by more than double
Each year the feds award around $46.2 billion for contracted work in the state, representing 10 percent of its Gross Domestic Product (GDP).
Although much of Trump's moves remain tied up in court, the policies have been widely felt.
For example Attorney General Anthony Brown recently told a judge that 813 federal workers filed for state unemployment between January 21 and March 3.
Meanwhile, Johns Hopkins University is among the hardest hit, losing $800 million in USAID grants, just in January alone.
Hopkins said that forced them to slash 2,000 jobs across 44 countries, including 200 locally.
The full comptroller's report can be read below.