Maryland Gov. Wes Moore has included higher income tax rates for taxpayers who make more than $500,000 in his budget plan, as well as about $2 billion in budget cuts to address a $3 billion deficit.

Maryland’s wealthiest earners would pay more in state taxes, while corporations and other workers would get a tax cut under a budget plan Gov. Wes Moore will introduce Wednesday — marking the first time the Democrat has thrown his political weight behind policies that could directly impact most Marylanders’ pocketbooks.

Moore has said the state will face difficult choices in handling its worst financial crisis in 20 years, leading to shortfalls that could reach nearly $6 billion by 2030.

None of these things are easy. All of them are necessary,” Maryland Gov. Wes aMoore said in a news conference unveiling his plan.

Maryland Gov. Wes Moore said that his proposal for the state’s budget will include $2 billion in cuts. He declined to specify which areas of the state’s roughly $63 billion budget

Governor Wes Moore says two-thirds of the people of Maryland, or 82%, will be getting a tax cut soon. Moore joins “CUOMO” to discuss his balanced Maryland budget and says “this is the moment when Maryland can actually grow economically” while helping working families.