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.

In an interview with WJZ, Governor Wes Moore said his FY2026 budget will bring major tax cuts to 82% of Marylanders, while increasing tax rates for the state's highest earners.

Under the proposal, the state would establish two new tax brackets for individuals earning more than $500,000 and $1 million while offering relief for others.

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.

Moore has also pledged making $2 billion in cuts to help close a $3 billion budget gap, targeting some spending on climate initiatives and government inefficiency.

Governor Wes Moore says 82% of Marylanders will see a cut or no change in their taxes, while the richest 18% will see increases. He did not say how much that increase will be.

Gov. Wes Moore (D) said Tuesday he will avoid tax increases and massive budget cuts and instead focus on growing the state's economy to solve the worst budget problem in more than two decades.