Maryland’s wealthiest earners would pay more in state taxes, while corporations and other workers would get a tax cut under a budget plan Gov. Wes Moore will introduce Wednesday — marking the first time the Democrat has thrown his political weight behind policies that could directly impact most Marylanders’ pocketbooks.

Most Marylanders could get a small tax relief if Gov. Wes Moore's proposed fiscal year 2026 budget is passed by the General Assembly.

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.

Maryland Gov. Wes Moore released a budget plan Wednesday that includes higher income tax rates for taxpayers who make more than $500,000, as well as about $2 billion in spending reductions throughout state government to address a $3 billion deficit.