After Credit Downgrade, Maryland’s Leftist Governor Torpedoes Reparations Bill To Avoid Political Blowback

The optics are grim for far-left Maryland Governor Wes Moore. As the state grapples with a fiscal crisis (deficit explosion), a credit downgrade, illegal alien invasion, violent crime, the looming threat of resident and business flight, a potential tsunami of new taxes, and a worsening power crisis, Moore is facing a growing backlash from all Marylanders. His ability to lead is increasingly being questioned—and it’s becoming clear he’s far from presidential material.

Moore has managed to anger both sides of the political aisle. The latest outrage comes from within his own party after he vetoed a bill that would have established a state commission to study and recommend reparations for African Americans affected by slavery.

In a letter explaining his decision, Moore said it’s not the time for another study, emphasizing the need for direct action to address racial disparities such as the wealth gap, homeownership, education, and food insecurity.

“I will always protect and defend the full history of African Americans in our state and country,” Moore wrote in his letter, adding, “But in light of the many important studies that have taken place on this issue over nearly three decades, now is the time to focus on the work itself: Narrowing the racial wealth gap, expanding homeownership, uplifting entrepreneurs of color, and closing the foundational disparities that lead to inequality — from food insecurity to education.”

He continued: ”We have moved in partnership with leaders across the state to uplift Black families and address racial disparities in our communities. That is the context in which I’ve made this difficult decision. Because while I appreciate the work that went into this legislation, I strongly believe now is not the time for another study. Now is the time for continued action that delivers results for the people we serve.”

Moore’s rationale—more likely crafted by his advisors—appears rooted in political optics. These far-left redistribution programs are so detached from capitalist principles and Western values that they risk being deeply unpopular, especially at a time when Maryland’s finances are unraveling after decades of Democratic overspending and an economy overly dependent on government funding.

We suspect Moore’s veto has also angered hardline Marxist Democrats in the state, who continue to push for socialist systems that redistribute wealth from the productive to the less productive. Under the current leadership of activist progressives, Maryland is on a death spiral—and it’s not us saying this—but some leaders of some of the largest companies that operate in the Baltimore area have told us this.

With Democrats furious over Moore’s veto of the reparations bill, the governor has now managed to infuriate both sides of the political aisle.

The Maryland Legislative Black Caucus was not pleased with Moore: 

“The state’s first black governor chose to block this historic legislation that would have moved the state toward directly repairing the harm of enslavement.”

Meanwhile, Maryland’s financial outlook continues to deteriorate, with a $3 billion budget shortfall looming—likely paving the way for new taxes and triggering yet another wave of resident flight.

It just keeps getting WORSE

Maryland has now LOST its prized AAA bond rating from Moody’s. Add that to the growing list of what Maryland has recently lost.

– FBI Headquarters
– Washington Commanders
– IonQ’s quantum computing hub
– Six Flags America

What will be next?

— Chris Papst (@chrispapst) May 15, 2025

A large asset manager based in Baltimore told us earlier this year that they had advised clients to leave the state before the impending tax tsunami and to avoid purchasing Maryland municipal bonds due to the high risk of a credit downgrade.

And last week, Maryland’s financial credit profile deteriorated, for the first time in decades—after Moody’s downgraded the state’s creditworthiness to Aa1 from AAA.

Since 1973, Maryland has maintained a top-tier credit rating, long seen as a reflection of fiscal discipline and responsible governance. However, far-left Democrats in Annapolis have chosen to run deficits to fund their progressive pet projects. This credit downgrade puts Maryland on the disastrous pathway toward becoming “Illinois 2.0.”

“I think it’s disgraceful that we’re going to set up a reparations tax that might tax one race and give to another race all in the name of equity,” Matthew Morgan, a Republican delegate, said in April before voting against the bill.

Epoch Times noted, “Some lawmakers also took issue with the bill’s broad language, which gave the proposed commission wide discretion in defining eligibility. They warned that, in theory, this could extend benefits to millions of people across the United States or even the world, costing billions of dollars.”

Perhaps Moore should take some personal time—maybe at the upscale Caves Valley Golf Club, where sources say he is a member—and reflect on his state strategy while paying a round of golf. With crises piling up well before Trump’s second term began, Moore has yet to demonstrate strong leadership Maryland needs.