Maryland small business owners warn of tax increases stifling growth and sustainability

Maryland's small business community is sounding the alarm over proposed tax increases that they believe could stifle growth and threaten their survival. During a recent Budget and Taxation Committee session, business owners expressed deep concerns about the impact of rising taxes and fees on their operations and the broader economy.

One business owner, representing a family-run enterprise established in 1943, highlighted the struggles faced by small businesses in Maryland. He pointed out that the state’s economic climate, compounded by the lingering effects of COVID-19, has made it increasingly difficult for businesses to expand. He warned that the proposed tax increases would disproportionately affect middle-class and lower-income citizens, as small businesses are significant employers in the state. He urged lawmakers to reconsider the tax strategy, suggesting it could lead to long-term damage that outweighs any short-term revenue gains.

Another entrepreneur, Teresa Eeland, who operates a trucking company in Southern Prince George's County, echoed these sentiments. She detailed the financial strain her business faces, particularly regarding the costs of truck repairs and maintenance. Eeland explained that the proposed tax increase could be the tipping point for many small businesses, making it harder to manage essential expenses and potentially leading to layoffs or business closures.

The discussions at the committee session reflect a growing concern among Maryland's small business owners about the sustainability of their operations in the face of increasing financial burdens. As these entrepreneurs call for a reevaluation of tax policies, the future of small businesses in Maryland hangs in the balance, with implications for employment and economic growth across the state.