Taxes and Budget Economists, lawmakers caution against squandering unexpected fiscal strength on tax cuts “Is it really a surplus if we’re not paying for these really essential needs that Mainers have?” asked Maura Pillsbury, a state and local tax analyst with […] Beacon Posted February 6, 2023 Tags Budget, Revenue, Tax Breaks, Tax Fairness, Taxes
Taxes and Budget Maine again has a chance to stop corporations from avoiding taxes Last year, Congress failed to pass a proposal to limit corporations from avoiding income tax by reforming how corporate income taxes are determined. But the Maine legislature […] Maura Pillsbury Posted January 30, 2023 Tags Revenue, Tax Fairness, Tax Havens, Taxes
Taxes and Budget Pension exemptions benefit wealthy households and compromise resources This year, lawmakers included a tax change in the state’s budget that will significantly expand tax benefits for pension recipients in Maine. Beginning in 2023, pension recipients […] Sarah Austin Posted August 25, 2022 Tags Income Tax, Incomes, Revenue, Tax Fairness, Taxes
Taxes and Budget A recent history of Maine’s swiftly evolving tax code For most of the 1990s and 2000s, Maine’s tax code remained relatively stable. Corporate and income tax rates were unchanged and except for modifications to how the […] Sarah Austin Posted August 4, 2022 Tags Budget, EITC, Income Tax, Property Tax, Revenue, Sales Tax, Tax Fairness, Taxes
Maine’s Economy Paul LePage Is Back! By most metrics, despite the high inflation and soaring energy costs, Governor Mills has a sterling set of accomplishments to fall back on during her reelection campaign […] The Nation Posted May 31, 2022 Tags Economic Security, Economy, Jobs, Poverty, Revenue
Taxes and Budget Once again, Legislature extends broken tax break for businesses When funding is funneled away from public priorities like schools, infrastructure, and health care and into business tax breaks, we should be confident that the spending is […] Maura Pillsbury Posted May 27, 2022 Tags Economic Security, Revenue, Tax Breaks, Tax Fairness, Taxes
Taxes and Budget Paul LePage keeps proposing tax ideas that would harm average Mainers LePage’s second term plans for slashing, leading to an elimination of, the income tax would have also raised sales taxes, which hit low and middle income people more. A 2017 analysis […] Bangor Daily News Posted May 24, 2022 Tags Economic Security, Revenue, Tax Fairness, Taxes
Taxes and Budget Republican lawmakers want to give millionaires $850 Republican legislators are proposing to remove income caps from the governor’s planned $850 COVID Pandemic Relief Payments. This would make the richest 20 percent of Maine households, […] Sarah Austin Posted April 7, 2022 Tags Budget, Coronavirus, Revenue, Tax Fairness, Taxes
Taxes and Budget Poll: Mainers prefer investments in housing, infrastructure over one-time checks Policy analysts at the Maine Center for Economic Policy have argued that if the one-time checks were more narrowly targeted, and the amount deposited in the Rainy […] Beacon Posted March 30, 2022 Tags Budget, Revenue
Taxes and Budget Biden proposes billionaire tax to pay for increased spending on military, public health Megan Michaud, vice president of programs and policy with the Maine Center for Economic Policy, said by closing offshore tax loopholes and taxing the unrealized capital gains on […] Beacon Posted March 29, 2022 Tags Budget, Federal, Revenue, Tax Fairness, Taxes