Summary
The BDN's recent report "Pursuing political favors" did a good job highlighting some of the benefits of the tax package passed by the Legislature last June, including how it would lower income taxes for 95 percent of Maine residents. But the report mischaracterizes some of the changes advocated by the governor, which ultimately resulted in a recast bill. The newspaper report quotes partisan critics who imply the governor's changes were a giveaway to the rich, because they removed new taxes on golf courses and ski tickets and luxury homes. That is a half-truth at best, and completely misleading.
The governor did back off on certain new revenues, but paid for it by reducing the income tax benefit to Maine's richest persons. (Persons making more than $250,000 would still get a tax cut, but not so large a cut.) He also added a refundable tax credit worth millions of dollars to working families.See the full content of this document
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Tax Reform Will Work
Thus, the overall impact of th...
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