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Metropolitan DC Local Politics
Reply to "Who thinks We Moore will be reelected as governor?"
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[quote=Anonymous]Maryland had a $5.5 billion surplus at the start of 2023, but by late 2024, it had accumulated a $3 billion deficit. In early 2025, the state passed a significant tax hike to help address this deficit, with a capital gains surcharge on high earners. An analysis warned that this plan could also impact middle-class families. In recent years, Maryland has lost billions in adjusted gross income (AGI) through "wealth drain," as residents with higher incomes have moved out of the state. This outflow is concentrated in specific areas, including Montgomery, Baltimore, and Anne Arundel counties, and Baltimore City. Maryland's economy is highly dependent on federal jobs and contracts. Since January 2025, the state has lost more than 15,100 federal jobs, which pay higher than average private-sector wages. The Board of Revenue Estimates warned that these losses, along with a slowing labor market and potential federal shutdowns, could further dampen growth. [/quote]
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