Gov. Larry Hogan on Monday unveiled a state economic relief package designed to put money into the pockets of low-income Marylanders, help businesses stay afloat and forgive hundreds of millions of taxes on unemployment benefits and other aid.
The $1 billion legislative package, which Hogan will introduce as emergency legislation when the General Assembly session begins Wednesday, is called the Recovery for the Economy, Livelihoods, Industries and Families (RELIEF) Act. Its purpose is to provide “immediate financial relief and tax cuts for Maryland working families, small businesses and those who have lost their jobs” during what Hogan summarized as “one of the worst economic crises in our country’s history.”
As emergency legislation, the measure would take effect as soon as both houses have passed it and the governor has given it his signature.
The package will include $267 million in state-directed stimulus payments to all families and households who received Maryland’s Earned Income Tax Credit for tax year 2019 or are set to receive the credit for 2020. Families will be eligible to receive up to $750 and individuals will receive up to $450. These direct payments would automatically go to more than 400,000 Marylanders.