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Franchot again calls for extending gas tax holiday to 90 days – CBS Baltimore

BALTIMORE (WJZ) Labeling the current schedule as “overly cautious,” Editor Peter Franchot on Wednesday continued his call for an extension of the gas tax holiday in Maryland to 90 days, saying the state can afford to supply gas. Give more relief to the pump.

When Governor Larry Hogan signed the 30-day vacation into law on March 18, the average price for a gallon of gas in Maryland was $4,166, about 10 cents lower than the national average, according to the state. to AAA Mid-Atlantic. As of Wednesday, it was at $3,776 now that the state has paused collection of $0.36 per gallon. The national average is $4,237 a gallon.

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“Not only can we afford to extend the gas tax holiday to 90 days, but we should extend it to 90 days to continue providing meaningful relief to Marylanders,” said Franhot. said at a Working Party meeting on Wednesday.

Earlier this month, the state Revenue Estimates Board, of which Franchot is a member, $7.5 billion surplus is expected in Fiscal Years 2022 and 2023, thanks in part to a $2.5 billion balance from the previous fiscal year.

Franchot calls for the introduction of a 90-day gas tax holiday during March 10 presentation revenue forecast. as well as stimulus payments to low-income families, small businesses and childcare providers.

Speaking on Wednesday, Franchot said the 90-day holiday will provide an estimated $250 million in relief for residents.

Funds raised from the gas tax are channeled into a trust fund for transportation and the environment. The state will use a billionth of its surplus to cover losses.

The Transform Maryland Transportation Coalition sent a letter to legislative leaders asking them to oppose the tax cut, arguing that it would negatively impact transportation funding and stimulate more drivers and demand. on gas is higher.

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The group said a subsidy for low-income Marylanders would be a more effective short-term solution.

“Over the long term, Maryland needs to build more resilience into our transportation system so that we are less vulnerable to spikes in gas prices,” the group said. “Maryland needs to make it easier for people and goods to get where they need to go without making the climate crisis worse.”

Maryland State Treasurer Dereck Davis, a member of the Working Group and the Revenue Estimates Board, offered a more cautious outlook, saying the tax holiday could not last “indefinitely.”

He pointed out in 2006, when, after years of freezing, Baltimore Gas and Electric announced rate will increase 72%.

While disapproving of an extension of the measure, Davis said he would vote for a 30-day holiday.

“I also want everyone to know that it is currently slated to be a temporary measure ending on April 16, and at that point we have to be prepared to be able to go back to what the market is doing. the school dictates,” he said.

Franchot, who is running to be the Democratic nominee for governor, has called on the Maryland General Assembly to extend the recess for the legislative session, which ends on April 11, instead of waiting to wait. solve the problem in a special session.

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“I think the money is there, obviously, and it’s going to be very popular,” he said.

https://baltimore.cbslocal.com/2022/03/23/franchot-again-calls-for-extending-gas-tax-holiday-to-90-days/ Franchot again calls for extending gas tax holiday to 90 days – CBS Baltimore

Jake Nichol

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