Jackson statement regarding LePage tax conformity proposal

AUGUSTA – In a joint hearing of the Taxation and Appropriations and Financial Affairs Committee, the LePage Administration presented their long-awaited tax ‘conformity’ proposal. A wholesale acceptance of the Republican rewrite of the federal tax code at the state level would have negative consequences on working families, including a $236 million dollar tax increase on Mainers. The LePage proposal replaces the current personal exemption with a $500 child tax credit, doubles the state’s Estate Tax exemption, and spends $90M over the two-year budget cycle.

Senate Democratic Leader Troy Jackson:

“Our number one priority in the Legislature is to look out for hardworking Mainers and their families. And with the Governor’s latest tax proposal, our priorities are no different. Maine is at its strongest when we have a larger, more robust middle class, and when everyone has an equal opportunity to work hard and get ahead.

The federal tax bill that passed through Congress late last year favored large tax cuts for the very wealthy and larger corporations. In Maine, Democrats oppose any bill that would harm hardworking Maine people so the wealthiest among us can put more money in their pockets.

Democrats want a tax plan that offers all Mainers a fair deal, and we look forward to working with our colleagues across the aisle to get the job done. Democratic Lawmakers on the Taxation Committee are ready to work with the administration on a tax plan that does not arbitrarily pick winners and losers. We are ready to buckle up and get to work.”

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