MECEP response to supplemental budget votes from the Committee on Appropriations and Financial Affairs

AUGUSTA, Maine — Garrett Martin, executive director at the Maine Center for Economic Policy, released the following statement about the bipartisan budget agreement passed by the Appropriations and Financial Affairs committee this weekend:

“This budget agreement advances a number of important priorities for Maine people. By fully funding education for the first time in nearly two decades, moving towards full funding of revenue sharing, and boosting the Earned Income Tax Credit and the Property Tax Fairness Credit, the proposal is a big investment in Maine families. Each of these policies will reduce poverty, increase opportunity, and help lay a foundation for success for all Mainers — especially our children.”

“Expanding the state Earned Income Tax Credit is an important win for working Mainers with low wages who are held back by income inequality and the rising cost of living. Increasing the EITC to 20 percent of the federal credit for tax year 2021 will boost the credit for roughly 100,000 households — increasing the maximum amount roughly $165 to $540 depending on household size — and improve the overall fairness of Maine’s tax code while empowering more people to make ends meet.”