Economic Freedom PAC is calling on the Maryland Senate to strike a hidden provision from the state budget that would impose a 6% sales tax on gold and silver coins and bullion — a move that directly targets savers, retirees, and small business owners.
After public backlash stalled House Bill 919, lawmakers quietly inserted the same tax language into the Budget Reconciliation and Financing Act (BRFA) — hidden on Page 57 (page 61 of the PDF, linked above). The House advanced the budget bill last week, but attention now turns to the Senate Budget and Taxation Committee, where the final fate of this tax hike will be decided.
“This is a classic bait-and-switch,” said Daniel Diaz, Executive Director of Economic Freedom PAC. “Marylanders stood up and said no to taxing sound money — so politicians buried it in the budget hoping no one would notice. We noticed, and we’re exposing it.”
The Five Senators Behind the Bullion Tax
Despite opposition from fiscal conservatives and small businesses across the state, five powerful Senate Democrats are backing the hidden tax increase:
- Sen. Guy Guzzone (D13, Chair)
- Sen. Jim Rosapepe (D21, Vice Chair)
- Sen. Joanne Benson (D24)
- Sen. Michael A. Jackson (D27)
- Sen. Craig Zucker (D14)
“These Senators are siding with the big banks and tax-and-spend lobbyists — and stabbing Maryland savers in the back,” said Diaz. “They want to tax gold and silver while leaving Wall Street investments untouched. That’s not just unfair, it’s un-American.”
45 States Don’t Tax Bullion – Why Should Maryland?
Maryland is one of only a few states attempting to impose sales tax on precious metals. This tax:
- Punishes small savers trying to hedge against inflation
- Drives business out of state to Delaware, Pennsylvania, and Virginia
- Targets physical assets while leaving stocks, bonds, and ETFs tax-free
- Hurts small coin shops with razor-thin margins and declining local traffic
“You don’t pay sales tax to buy a mutual fund. Why should you pay one for gold or silver?,” Diaz added.
Call to Action: Strike Page 57
Economic Freedom PAC is demanding the Maryland Senate:
- Amend the BRFA to remove Page 57, which repeals the bullion tax exemption
- Respect public transparency by not hiding tax hikes in the state budget
- Protect small investors and businesses from politically motivated taxation
Voters can learn more and take immediate action at www.StopTheBullionTax.com.
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About Economic Freedom PAC
Economic Freedom PAC is a federal Super PAC dedicated to defending financial liberty, promoting sound money policies, and opposing hidden tax increases that harm everyday Americans. Learn more at www.economicfreedompac.com.
Paid for by Economic Freedom PAC. Not authorized by any candidate or candidate’s committee.
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