Protect Maine’s Economic Recovery
Lawmakers on Maine’s Taxation Committee are set to debate a pair of bills that would impose new taxes on individuals and corporations, making it even more unaffordable to live, work and raise a family in Maine. LDs 498 and 501 would make Maine’s individual income tax and corporate income tax rates among the most burdensome in the country. These bills must be defeated this session.
Maine must attract young, talented workers and entrepreneurs to our state if we are to reverse our demographic woes. Establishing the 4th highest individual income tax rate in the country, coupled with the highest overall corporate income tax rate, would do just the opposite. The best investment lawmakers can make in our state’s economic recovery is to ensure we’re not subjected to new tax and fee increases amid the pandemic.