Moore has said the state will face difficult choices in handling its worst financial crisis in 20 years, leading to shortfalls that could reach nearly $6 billion by 2030.

Maryland’s wealthiest earners would pay more in state taxes, while corporations and other workers would get a tax cut under a budget plan Gov. Wes Moore will introduce Wednesday — marking the first time the Democrat has thrown his political weight behind policies that could directly impact most Marylanders’ pocketbooks.

ANNAPOLIS, Md. (7News) — Maryland Governor Wes Moore released details of his $67.3 billion budget on Wednesday. It relies on $2 billion in cuts to state Government as well as nearly $1 billion in tax increases to close a nearly $3 billion budget deficit.

Governor Wes Moore promised his budget will have $2 billion in cuts, while the General Assembly will work to close the remaining $1 billion of the deficit.

Maryland Gov. Wes Moore has included higher income tax rates for taxpayers who make more than $500,000 in his budget plan, as well as about $2 billion in budget cuts to address a $3 billion deficit

Maryland is facing a budget crisis and Gov. Wes Moore has said the state is going to have to slash spending and increase revenue to fix it.

An overhaul of Maryland’s personal income taxes would give two-thirds of filers an average tax cut of about $173 while raising hundreds of millions of dollars more from those making more than $500,000 under a budget plan proposed Wednesday by Gov.