New Analysis: Questions 2 & 4 Would Move Maine’s Economy Backwards
YARMOUTH – Recently, MHPC requested that the American Legislative Exchange Council (ALEC) run three different scenarios through the formula used to calculate state rankings in the Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index – and the results are in.
According to Elliot Young and Jonathan Williams of ALEC, although Maine has significantly increased it’s economic competitiveness, and therefore its ranking in recent years, moving the state from 48th in 2011 to 38th today, if either referendum were to pass, our economic competitiveness would be similar to that of opportunity-starved states such as New Jersey, New York, Connecticut and California.
If either Question 2 (tax hike) or Question 4 (minimum wage) were to pass, our ranking would slip from 38th to 44th, according to their analysis. If both referendums were to pass, Maine would once again be known as one of the least competitive states in the nation with a ranking of 46th.
To view their full analysis, click here.