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.

Gov. Wes Moore Wednesday proposed a budget he said will promote long-term economic growth and provide tax cuts to many, but it will be  balanced on tax increases on high-income earners in the state.

Moore said the brunt of the tax increases will be shouldered by Marylanders with a household income north of $700,000 a year. In 2023, more than 18% of Maryland households were estimated to earn $200,