Senate hopeful Rep. David Trone, D-Md., used a racial slur during a congressional budget hearing Thursday and later apologized, saying he misspoke and did not know what the word meant.

Trone dropped a derogatory word for Black people into a brief speech praising President Biden’s tax proposals toward the end of a friendly exchange with the director of the Office of Budget and Management.

After explaining that corporate tax rates did not influence how he invested hundred of millions in his national liquor company, Trone continued:

“So this Republican jigaboo that it’s the tax rate that’s stopping business investment, it’s just completely faulty by people who have never run a business,” he said during a House Budget Committee hearing. “They’ve never been there. They don’t have a clue what they’re talking about.”

The slur is among the derogatory terms used to caricature Black people. After being contacted by The Washington Post hours after the remark, Trone apologized in a statement.

“Today while attempting to use the word bugaboo in a hearing, I misspoke and mistakenly used a phrase that is offensive. Upon learning the meaning of the word I was deeply disappointed to have accidentally used it, and I apologize,” the statement said.

Trone, 68, is a leading Democrat in the May 14 primary race to succeed retiring Sen. Ben Cardin (D-Md.) and represent the most diverse state on the East Coast.

Polling released this week shows the race is wide open, with 39 percent of primary voters undecided and Trone leading his chief opponent, Prince George’s County Executive Angela D. Alsobrooks (D) by 7 percentage points. The winner is likely to face former Maryland governor Larry Hogan (R) in November’s general election.

Through a spokesperson, Alsobrooks declined to comment on Trone’s remark.

Trone began his comments Thursday appearing to read from prepared remarks and cordially welcoming OMB Director Shalanda D. Young, who is Black, and offering to yield his time to her if she had any points to bring up.

Young and Trone went on to agree that “something has to be done” about how little tax corporations and the wealthy pay, with Trone saying Biden’s proposed budget would help free up money to improve child care and increase pre-K access across the country. He calculated how many people could be put on food assistance programs if Amazon paid a 21 percent corporate tax rate.

“That’s a pretty good trade-off. Amazon can certainly afford that. Jeff Bezos can easily afford it, good Lord,” Trone said. (Amazon founder Bezos owns The Washington Post.)

Reached through staff, Young declined to comment on Trone’s remark.

Trone released an expanded statement later Thursday saying the word he used “has a long dark terrible history. It should never be used any time, anywhere, in any conversation. I recognize that as a white man, I have privilege. And as an elected official, I have a responsibility for the words I use - especially in the heat of the moment. Regardless of what I meant to say, I shouldn’t have used that language.”