Tax Law | WYPR

Tax Law

Rachel Baye

Maryland residents are expected to save nearly $3 billion on their federal income taxes in 2018 as a result of the new federal tax law, according to a report state Comptroller Peter Franchot released Thursday. But residents will likely lose at least $400 million in state and local income taxes, unless lawmakers act to prevent it.

Franchot’s office estimates that between a quarter and a third of state taxpayers could pay more state and local income taxes.

Ivy Bookshop

We talk taxes with Pulitzer-Prize winning journalist and author David Cay Johnston, who will be at the Pratt Tuesday, Jan 23, to discuss his new book: “It’s Even Worse Than You Think: What the Trump Administration is Doing to America.” Johnston explains how he forsees the new tax law affecting the economy.