Trump's Crypto Law Just Created a Massive Opportunity

Trump's newly signed GENIUS Act gives crypto its first official federal framework. While attention stays on Bitcoin, one overlooked coin could benefit the most-backed by skyrocketing volume, early fund activity, and pro-crypto policy momentum.

Maryland governor announces budget framework deal with taxes, cuts

BRIAN WITTE
March 20, 2025

ANNAPOLIS, Md. (AP) -- Maryland Gov. Wes Moore announced an agreement on a state budget framework with the state's Democratic leadership Thursday, criticizing President Donald Trump's tariffs and dramatic downsizing of the federal government while announcing tax increases and cuts to address a $3.3 billion state deficit for the next fiscal year.

The tax increases include a new 3% tax on information technology services, as well as a new income tax bracket for the state's wealthiest residents

"We 've spoken to Marylanders at all income levels about this plan, and there is consensus that if a person is making over $750,000 a year, it is reasonable to ask them to give roughly $1,800 more to help us invest in the success of our state," Moore, a Democrat, said.

The plans also include tax increases on gambling and cannabis, as well as a new 1% tax on capital gains for people with incomes over $350,000.

Moore and other leading lawmakers criticized the Republican president frequently at a news conference at the state Capitol. The governor pointed out that the ratings agency Moody's recently noted that federal cuts pose a greater threat to Maryland than any other state.

"The president has launched a reckless trade war with our allies, including our largest trading partners, and those tariffs could mean over a $2 billion impact on our economy and directly harm our people," Moore said,

He added that Trump dealt a further blow to the state last week by announcing plans to cancel relocating a new FBI headquarters in Maryland.

Republicans said it was wrong to blame the president for the state's fiscal woes, because Maryland's budget deficit existed long before Trump returned to office in January.

"You didn't hear one bit of accountability from any of the Democratic leaders," Del. Jesse Pippy, a Republican who is the House minority whip, said. "You didn't. You heard them blame Trump for every single problem we have in the state, and they just raised our taxes at least a billion dollars."

But the governor emphasized that 94% of Marylanders "will either get a tax cut or see no change in their income taxes." However, he did not provide an estimated average tax cut for those seeing reductions, saying work was ongoing to determine those numbers.

Moore and other leading Democrats, who heavily control the state's legislature, described the budget plan as a much-needed modernization of the state's revenue streams.

"As our economy increasingly becomes digital, this revenue expansion acknowledges the growing role of IT in our daily lives and business operations and the use of technology to replace workers," Senate President Bill Ferguson, a Baltimore Democrat, said. "It also acknowledges that many goods, such as software programs, are now sold as yearly or monthly services."

The new tax would apply to services like website building, as well as services that help people store information on the cloud, such as Amazon Web Services.

Ferguson said the new tax on capital gains will be used to invest in transportation and help add a new revenue stream to the budget, and he linked the new tax to Trump's plan for a tax cut for the wealthy.

"What we do know is that the Trump tax cuts that are focused on billionaires are likely to help those who have done the best, and so this is the right place for Maryland to look to have sustainable investment in our infrastructure and in our budget," Ferguson said.

The plan includes about $2.3 billion in cuts, about $500 million more than the governor included in his initial budget proposal in January. Del. Ben Barnes, a Democrat who chairs the House Appropriations Committee, noted that previous cuts to the Developmental Disabilities Administration have been restored.

Moore described the cuts as the most significant in 16 years, but few details about them were offered at the news conference, an omission sharply criticized by Republicans.

Del. Jason Buckel, a western Maryland Republican and the House minority leader, described it as "very disappointing, the incredible lack of detail."

"Basically all I took away from it was we're going to increase people's taxes," Buckel said. "We're making cuts. We can't tell you what the cuts are."

Lawmakers still have to pass a balanced budget before the end of the legislative session on April 7. The governor described the agreement on Thursday as a framework on its main components, though work remains in the coming weeks.

"This framework will inform the final budget and the final bill that goes from the House to the Senate, and I look forward to signing it when it makes it to my desk," Moore said.

Continue Reading...

Popular

Why Falcon's Beyond Stock Is Jumping Today

Falcon's Beyond shares surge on Tuesday after the company was preliminarily slated for Russell 2000 inclusion, boosting visibility despite ongoing losses.

Bitcoin Income Crushes Dividend Stocks - Ad

Why tie up $400,000 in Pepsi for a $1,200 a month payout when one little-known Bitcoin fund can deliver the same with just $30,000?

Will Santa Claus Rally Fail? Wall Street Divided Amid Mounting Volatility, Bearish Options Activity

Analysts offered mixed signals on the S&P 500's near-term outlook making a Santa rally uncertain, pointing to potential volatility, amid atypical seasonality and rising bearish options sentiment.

Taiwan Denies It Will Swap 'Worker Training' For Lower US Tariffs

Taiwan's TSMC at center of trade negotiations with US, pushing for reduced tariffs and promoting its 'Taiwan model' for tech success.

D.C.'s Quiet Plan for a New Tech Era - Ad

Why did federal agencies receive orders to "clear the runway" for a phenomenon most Americans haven't even heard of yet? And why are billionaires rushing in weeks before January 1? Whitney Tilson decoded the pattern.

Elon Musk Says He Doesn't Buy Stocks, But Thinks Google Will Be 'Pretty Valuable' In The Future And Nvidia's An 'Obvious' One

Elon Musk says he doesn't invest in stocks but believes Google and Nvidia are best positioned to dominate the future economy through AI, robotics, and space, while both companies continue to post strong earnings and market gains.

Bitcoin Just Humbled Jeff Bezos - Ad

Bitcoin just passed Amazon in market cap - yet most investors are making one big mistake: just buying and holding. Larry Benedict's "Bitcoin Skimming" method could deliver 6x, 9x, even 22x the gains. Don't miss out.

Noem Says National Guard Shooting Suspect Was Radicalized In US

DHS Secretary Kristi Noem says that the suspect in the fatal shooting of a National Guard member in Washington was radicalized domestically.

$270,000 Drug. One Competitor. Billion-Dollar Market. - Ad

Phase 3 trial targets recurrent pericarditis with an oral therapy that could disrupt the only approved treatment. And their heart failure program launches in 2026.

Donations for Hong Kong fire victims reach $115 million, while crackdown on dissent hardens

HONG KONG (AP) — Donations for victims of a Hong Kong fire that killed at least 146 people and left thousands homeless reached 900 million Hong Kong dollars (US$115 million), authorities said Monday, in a massive outpouring of sympathy and support. But as questions grew over who to blame for the deadly blaze, the government appeared to be moving swiftly to stifle criticism.

The $43B Big Pharma Story is Starting Over-With a New Player - Ad

Big Pharma once paid $43B for a small biotech with a similar platform. Now, a new company is following that same playbook, leveraging its patented delivery technology to attract partnerships and near-term revenue potential.

These are the 37 donors helping pay for Trump's $300 million White House ballroom

WASHINGTON (AP) — President Donald Trump says his $300 million White House ballroom will be paid for “100% by me and some friends of mine.”

Most Bitcoin Holders Have No Idea This Exists - Ad

I call it "Bitcoin Skimming"... and it allows you to "skim" cash into your account thanks to 2025's surging Bitcoin market. You don't have to buy or sell Bitcoin. Not one single penny's worth. In my latest video briefing, I'll give you everything you need to "skim" your first payout -- and it won't cost you a penny.

Donald Trump Administration's Unprecedented Investment In Private Firms Raises Eyebrows

President Trump administration has invested over $10 billion of taxpayer funds in private companies deemed crucial to national security.

The Next Biggest Bull Run In Over 50 Years - Ad

Gold has hit all-time highs, breaking $4,000 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

A lost generation of news consumers? Survey shows how teenagers dislike the news media

NEW YORK (AP) — Cat Murphy, a college student, has wanted to be a journalist since she was 11. Many of her friends don't understand why.

Apple Replay is here. What's the No. 1 song on Apple Music’s 2025 songs chart?

NEW YORK (AP) — It arrived in 2024. And it never left. and massively popular, Grammy-nominated “APT.” topped Apple Music’s global song chart in 2025 as the giant music streamer Tuesday and provided listeners with data on their own most listened-to tunes.

Oil Supermajors FLOOD Into "Anti-Oil Technology" - Ad

ExxonMobil, Chevron, Eni, and Shell are investing billions of dollars in a technology that could cause oil prices to collapse. According to Bill Gates, this breakthrough "could be as transformative as the invention of the steam engine before the Industrial Revolution."

Covet an Italian masterpiece, but shy of the millions? How about a digital copy at supercar prices

MILAN (AP) — The last person to get their hands on a painting attributed to Leonardo da Vinci shelled out Now, Italian cultural officials are making it possible to purchase a limited edition, certified digital copy of the Renaissance genius’ “Lady with Disheveled Hair’’ for roughly the price of a Lamborghini.

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly - Ad

AI, electrification, battery storage, and data centers are pushing copper and silver demand sharply higher, even as supply stays tight. This region in Nevada offers rare multi-metal potential, and a new company has secured land in a district the surging district. It's one of the cleanest timing setups in the sector right now.

Zohran Mamdani Says No More Thanking Veterans Today, Forgetting Tomorrow — Trump, Obama And Others Express Gratitude For Service

America's top political and tech leaders — including Donald Trump, Barack Obama, Tim Cook, and Sundar Pichai — marked Veterans Day 2025 with tributes honoring the courage and sacrifice of U.S. service members.

OpenAI's Partners Rake Up $96 Billion Debt as AI Industry's Borrowing Trend Escalates

Companies supplying data centers, chips, and processing power to OpenAI have racked up a staggering $96 billion in debt to fund their operations.

Trump's Crypto Law Just Created a Massive Opportunity - Ad

Trump's newly signed GENIUS Act gives crypto its first official federal framework. While attention stays on Bitcoin, one overlooked coin could benefit the most-backed by skyrocketing volume, early fund activity, and pro-crypto policy momentum.

Nvidia, Dell, Coinbase, Gorilla Technology And Archer Aviation: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks closed lower on Monday, with the Dow slipping 1.2% to 46,590.24, the S&P 500 easing 0.92% to 6,672.41, and the Nasdaq dipping 0.84% to 22,708.07. These are the top stocks that gained the attention of retail traders and investors through the day:

Bitcoin Income Crushes Dividend Stocks - Ad

Why tie up $400,000 in Pepsi for a $1,200 a month payout when one little-known Bitcoin fund can deliver the same with just $30,000?

Trump's $2,000 Tariff Dividend Stumbles On Math: Cost Far Exceeds Revenue

Trump's $2,000 tariff rebate plan faces a major math gap, with estimated costs up to $606.8B—far exceeding tariff revenues in 2025 and 2026, says the Tax Foundation.

D.C.'s Quiet Plan for a New Tech Era - Ad

Why did federal agencies receive orders to "clear the runway" for a phenomenon most Americans haven't even heard of yet? And why are billionaires rushing in weeks before January 1? Whitney Tilson decoded the pattern.

Trump Bars South Africa From 2026 G20 Summit In Florida, Freezes Aid Over 'White Genocide'

President Donald Trump directed that South Africa will not be invited to the 2026 G20 Summit in Miami, Florida. He also declared that all U.S. payments and subsidies to the country would be immediately suspended.

Warren Buffett Initiates Alphabet Position, Trims Apple In Q3 — Here Are Berkshire's Moves

Warren Buffett's Berkshire Hathaway took a new stake in a member of the Magnificent Seven, while lowering its stake in Apple in the third quarter.

Bitcoin Just Humbled Jeff Bezos - Ad

Bitcoin just passed Amazon in market cap - yet most investors are making one big mistake: just buying and holding. Larry Benedict's "Bitcoin Skimming" method could deliver 6x, 9x, even 22x the gains. Don't miss out.

Federal Reserve Ends Quantitative Tightening: A New Era For Crypto Liquidity Begins

The Federal Reserve officially ended its Quantitative Tightening program on December 1, 2025, freezing its balance sheet at $6.57 trillion and marking a pivotal shift in monetary policy that could reshape Bitcoin (CRYPTO:

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright smartmoneytrading.net
Privacy Policy | Terms of Service