MD Gov. Wes Moore proposes tax break for military retirees

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Maryland Gov. Wes Moore wants to expand state tax relief for military retirees.

The governor highlighted the “Keep Our Heroes Home Act” in his legislative agenda during a roundtable with veterans on Thursday. It calls for expanding the military tax exemption to $25,000 of income in tax year 2023 and $40,000 in tax year 2024.

Now, the state allows any individual receiving military retirement, including surviving spouses, to deduct the first $5,000 from their taxable income if they are under 55 and $15,000 if they are 55 or older. The governor’s proposal expands the amount and eliminates the age distinction.

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The governor also is supporting free medical and dental care for members of the Maryland National Guard and their families who are eligible for Tri-Care Reserve Select.

Moore, a Democrat who is a former U.S. Army captain, proposed his $63.1 billion state budget plan last week.

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Moore’s budget includes about $30 million in the next fiscal year for the tax relief proposal and $5 million for the healthcare proposal.

The General Assembly will be working on the plan for much of their legislative session, which ends April 10.