The National Federation of Independent Business (NFIB), Maryland’s leading small business advocacy organization, issued the following statement from NFIB Maryland State Director Mike O’Halloran in response to Governor Wes Moore’s budget proposal:

“We’re concerned about the outsized impact these tax proposals may have on small businesses and our members. Small businesses are the backbone of Maryland’s economy and are managing historic business costs across the board. Now is not the time to saddle Main Street even more by adding to their expenses. We urge the Maryland General Assembly to reject any tax increases on Maryland’s small businesses and instead advance policies that will allow them to reinvest in their business. Our members are anxious to see the details of the Governor’s plan so they can determine what it really means for them.”

According to NFIB’s research, small businesses reported that “federal taxes on business income” and “state taxes on business income” are two of the top 10 most severe problems for their businesses.