Less than a day after Maryland Comptroller Peter Franchot first called for a “gas tax holiday,” the plan to suspend the state’s nearly 37-cent gas tax hit the Senate floor.
During Friday morning’s session in the State House, Senate President Bill Ferguson called on the Chair of the Budget and Taxation Committee, Sen. Guy Guzzone.
“We all obviously have been shocked and surprised by the rapid increase of gas prices at the pump,” Guzzone said, as he explained the purpose of the legislation. “This bill will suspend taxes on gas for 30 days.”
The bill was filed late in the legislative session, so rules were suspended, enabling it to move straight to committee.
During the Board of Revenue Estimates meeting in Annapolis, Franchot called for a three-month suspension of the gas tax, citing the dramatic jump in gasoline prices following the Russian invasion of Ukraine.
Franchot suggested the state was in a position to allow for the extended suspension of the gas tax since the state has a projected surplus of $7.5 billion.
Gov. Larry Hogan quickly followed with a statement saying he was already at work with lawmakers to suspend the gas tax.
See my joint statement w/ @SpeakerAJones on suspension of Maryland’s gas tax. pic.twitter.com/7tJSafK8UD
— Bill Ferguson (@SenBillFerg) March 10, 2022
Within hours, Senate President Bill Ferguson and House Speaker Adrienne Jones announced that they were “standing together” to support and pass legislation that would suspend the gas tax for a period of 30 days.
