MD Senate increases state tax deductions
A piece of legislation to increase standard tax deductions has made it through the Maryland Senate, part of the state’s response to federal tax overhaul. The vote Wednesday was unanimous and sends the bill to the House. The measure boosts the standard tax deduction for three years. The deduction will go from $2,000 to $2,500 for individuals and from $4,000 to $5,000 for those filing jointly. Lawmakers say the goal is to bring some relief to middle class taxpayers who will face higher state taxes because of changes in the federal tax overhaul.