Maine’s Economy

Congress should prioritize state, local services over tax breaks for the wealthy, corporations

“Available indicators forecast a new recession triggered by the spread of COVID-19, with the economic damage poised to hit harder and faster than any downturn in recent […]

Bangor Daily News

Posted May 14, 2020

Tags Coronavirus, Federal, Tax Breaks

Maine’s Economy, Taxes and Budget

Democrats weigh repeal of tax breaks for wealthy as downturn threatens state services

Maine’s state budget is facing an estimated 30-percent revenue decline in the next fiscal year from the economic shock of the COVID-19 pandemic, the Maine Center for […]

Beacon

Posted May 11, 2020

Tags Budget, Economy, Tax Breaks, Taxes

Taxes and Budget

Mainers coming together to fight inequality throughout state

A new bill advocates want to see put in place would tax wealthy estates more than $2 million to fund things such as education and local services. […]

Fox Bangor

Posted March 5, 2020

Tags Inequality, Tax Breaks, Tax Fairness, Taxes

Taxes and Budget

Anti-'Tax Havens' bill gets new look as effort to close corporate loophole from Trump Tax Cuts

Corporations depend on things like an educated workforce, consumers with enough income to pay for services and products, and infrastructure that facilitates commerce. As a state and […]

Sarah Austin

Posted March 2, 2020

Tags Tax Breaks, Taxes, Trump Tax Cuts

Taxes and Budget

Rollback of LePage’s estate tax cut for multi-millionaires would raise $14 million

The estate tax threshold is currently set at $5.8 million for any individual who has property in Maine, meaning that up to $5.8 million of a person’s […]

Beacon

Posted March 2, 2020

Tags Estate Tax, Tax Breaks, Tax Fairness, Taxes

Taxes and Budget

Report: Large corporations abusing offshore tax havens cost Maine $52 million annually

Massive corporations like Google, Apple, and Exxon Mobil are avoiding their fair share of taxes by using shell companies in offshore tax havens, costing Maine $52 million […]

The Center Square

Posted February 20, 2020

Tags Revenue, Tax Breaks, Taxes

Taxes and Budget

STATEMENT: Amended tax havens bill would close corporate tax loophole handed down by Trump Tax Cuts

FOR IMMEDIATE RELEASE: February 19, 2020 AUGUSTA, Maine — Sarah Austin, tax and budget policy analyst at Maine Center for Economic Policy, released the following statement regarding […]

Posted February 19, 2020

Tags Tax Breaks

Taxes and Budget

Report says Maine losing $52 million a year to overseas tax havens

The Maine Center for Economic Policy said that overseas tax havens mean companies like Apple pay lower or no taxes abroad on profits actually made here. “Businesses […]

Fox Bangor

Posted February 11, 2020

Tags Revenue, Tax Breaks, Tax Fairness, Taxes

Taxes and Budget

Tax breaks may be better spent elsewhere

The evidence suggests that instead of giving millions to profitable corporations, Maine could better spend that money on public investments that truly benefit communities and the economy […]

Central Maine Newspapers

Posted January 22, 2020

Tags Revenue, Tax Breaks, Tax Fairness, Taxes

Taxes and Budget

BIW gets a $45 million tax break. It should expect scrutiny.

“There’s little to no evidence that corporate tax credits, such as the $45 million received by BIW, actually spur job creation or investment,” Mario Moretto, MECEP’s communications director, told me. […]

Bangor Daily News

Posted January 15, 2020

Tags Tax Breaks, Taxes

Tax Breaks

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Congress should prioritize state, local services over tax breaks for the wealthy, corporations

Democrats weigh repeal of tax breaks for wealthy as downturn threatens state services

Mainers coming together to fight inequality throughout state

Anti-'Tax Havens' bill gets new look as effort to close corporate loophole from Trump Tax Cuts

Rollback of LePage’s estate tax cut for multi-millionaires would raise $14 million

Report: Large corporations abusing offshore tax havens cost Maine $52 million annually

STATEMENT: Amended tax havens bill would close corporate tax loophole handed down by Trump Tax Cuts

Report says Maine losing $52 million a year to overseas tax havens

Tax breaks may be better spent elsewhere

BIW gets a $45 million tax break. It should expect scrutiny.