Comptroller Franchot to discuss how federal tax plan impacts Maryland

Posted at 7:42 AM, Jan 25, 2018
and last updated 2018-01-25 07:42:27-05

Comptroller Peter Franchot is scheduled to discuss how the federal tax overhaul will affect Maryland taxpayers.

His office will release a report on Thursday.

Lawmakers have been waiting to see the detailed analysis as they wrestle with how to respond to the GOP federal tax overhaul, which is expected to cause some tax increases at the state level.

Leading lawmakers have emphasized that they are making it a priority this session to return hundreds of millions of dollars in state tax increases triggered by the federal overhaul. Maryland House Speaker Michael Busch said earlier this month that the federal tax measure "takes away $680 million in exemptions for Marylanders."

Gov. Larry Hogan has said he also supports returning the money to taxpayers.

ABC2 News contributed to this stroy.