Governor Wes Moore recently testified within the House Appropriations and Ways and Means Committee in support of the Budget Reconciliation and Financing Act of 2025. The Moore-Miller Administration claims this bill will grow Maryland’s economy, reform the tax code, as well as work to address the state’s fiscal struggles.

To what extent will this bill impact local businesses, and what are some additional bills that may support or hinder these local businesses? In his testimony, Moore states that this budget proposal cuts taxes for two-thirds of Marylanders and ensures that 82% of Marylanders either see a tax cut or no change. This appeal speculates on behalf of Marylanders’ small business as well.

Here are some additional bills introduced in the 2025 legislative session that are associated with small business growth, and specifically in areas such as cybersecurity, employee benefits, and procurement.

SB0760– The Better Small Business Employee Benefit Act of 2025

• A bill that works to exempt certain requirements relating to health benefit plans for small employers.

HB1321- Income Tax-Credit for Cybersecurity Measures Undertaken by Small Businesses

• A bill that would provide an income tax credit for various cybersecurity measures taken by small businesses.

SB0302– Maryland Small Business Innovation Research and Technology Transfer Incentive-Altercations

• A bill that would provide incentives for small businesses through the Maryland Small Business Innovation, Research and Technology Transfer program.