Governor Larry Hogan issued the following statement after the Board of Revenue Estimates reported an increase in the state’s record budget surplus:
“Today’s incredible revenue estimates increase our already record surplus and reinforce the fact that Maryland continues to have one of the strongest recoveries in America.
“This report further proves that we have a once-in-a-generation opportunity to advance substantial tax relief for our families, small businesses, and retirees. People across the country are being squeezed by surging inflation on everything from gas to groceries—Marylanders, especially our retirees, deserve and need this relief.
“In addition, at this time of global uncertainty due to Russian aggression, we are working with our legislative partners on an emergency suspension of the gas tax to help with the pain at the pump. We also support ongoing efforts in the legislature to suspend automatic increases in the gas tax. And I have called on the Biden administration to increase domestic energy production to help lower costs. Now more than ever, we must come together to take bold, bipartisan action.”
