ANNAPOLIS, Md. (WDVM) — At the Maryland General Assembly, Frederick Senator Ron Young, a Democrat, is out to stop big corporations doing business in Maryland from sending their Maryland-earned profits to their home state.
Just because a Walmart or Target does well in Maryland doesn’t mean Arkansas or Minnesota should solely benefit, Senator Young said. He said that Maryland is losing $60 million a year, and he wants a share of those state earnings to stay in Maryland.
“We’re short of revenue all the time,” said Young. “This is money that will not come out of anybody’s pocket. They’re already paying the profits. The taxes are just going elsewhere.”
Senator Young says 28 states already have a law on their books like the one he proposes. His bill passed the Maryland Senate last year but was halted in the House of Delegates.