Austerity imposed by lawmakers from both parties has frayed our social safety net and left far too many Marylanders vulnerable to soulless market forces. When progressive legislators and activists respond that society has a moral obligation to the poor, the elderly, and children, we are often admonished that resources are unavailable.
The obvious solution is to increase revenues from those more than able to pay. Delegate Jheanelle Wilkins has introduced legislation to do just that. HB-0268 restores the tax on multi-million dollar estates that would generate an estimated $116 million per annum. The bill is scheduled for a hearing before the House Ways and Means Committee on February 9th at 1pm.
If passed, Delegate Wilkins’ bill would reverse the 2014 law that raised from $1 to $5 million the minimum value of Maryland estates subject to taxation.
As the Maryland Fair Funding Coalition points out: The 2014 revision “provided a handout to a small number of ultra-wealthy heirs and made it harder for the state to invest in essential services. Estate taxes help support the public investments we all rely on, and they are a critical response to growing wealth inequality.”
You can make a difference by clicking here to email the members of the House Ways and Means Committee to urge them to restore the tax on estates of over $1 million.