MCCC's Economic Development Committee Receives Tax Season Briefing by Maryland Comptroller Peter Franchot
On March 2, 2022, MCCC's Economic Development Committee received a briefing from Maryland Comptroller Peter Franchot. Comptroller Franchot, a former Montgomery County member of the House of Delegates, told MCCC members that Maryland's tax filing deadline was moved 90 days to July 15, 2022. The Comptroller said moving the date helps small businesses by essentially providing a short-term loan to taxpayers.
Comptroller Franchot also discussed the State of Maryland's budget surplus. He urged policymakers to commit $2B to the Rainy Day Fund to buffer the State from future economic downturns. He also suggested that $1B be committed to infrastructure projects, $2B for low-wage Marylanders, $500 million for childcare, and $500 million to small businesses.