As Maryland lawmakers work to close a roughly $3 billion budget gap, state Senate President Bill Ferguson says a 2.5% tax on services one business provides another is a top contender, despite strong opposition from business owners.

Speaking with reporters Friday, Ferguson said new taxes “should be the last option on the table.”

However, businesses are likely to get tax relief from a future federal tax cut, he said.

“So this is a balanced approach to make sure that we have the right resources to be able to maintain our social safety net and make sure that Marylanders who rely on these services can look to Maryland and understand that even in the midst of this uncertainty, we will still ensure that our basic public structures function,” the Baltimore Democrat said.

The tax is just one of several options lawmakers are considering, but Ferguson said some version of it is likely to be in the “final menu.”

The current proposal taxes a wide range of services, including accounting, tax preparation, consulting, public relations, information technology, photography, landscaping, valet parking, and truck repair. If passed, it would take effect July 1.

Legislative analysts estimate the proposal would bring in $833.6 million next fiscal year and over $1.2 billion by fiscal 2030. The bill directs those funds to support the Blueprint, the state’s 10-year education reform plan.

However, business owners oppose the measure and packed legislative hearings to testify against it this week.

“This is the wrong tax at the wrong time,” said Paul Nolan, vice president of tax, government affairs & strategic real estate at McCormick & Company, Inc. “It is guaranteed to stifle economic growth in the state. It will discourage new companies from coming here, whether forming or moving, and will encourage those of us here to consider other locations to receive any of the services that are taxed here.”