Legislative Democrats release A Better Deal for Maine Budget Plan
“Mainers want a better deal for themselves, a better deal for their communities and a better deal for the economy. Under our plan, working Mainers will get a bigger tax cut and see investments in our public schools, roads and jobs to grow our economy.” –Senate Democratic Leader Justin Alfond of Portland
Sen. Justin Alfond of Portland
The Better Deal for Maine:
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Puts more money in the pockets of Maine families: Cuts property taxes by $120 million annually for Maine residents by doubling the Homestead Exemption for all Maine homeowners and by increasing the Property Tax Fairness Credit by more than $57 million per year.
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Invests in Maine’s future: Bolsters investment in Maine students, workers and seniors. Increases funding for K-12 education by $20 million per year.
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Prevents property tax hikes: Increases revenue sharing to $80 million each year for local services like police, fire, and public works, while rejecting the governor’s new taxes on non-profits.
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Targets income tax cuts for the middle class: Cuts income taxes by hundreds of dollars for the vast majority of Maine families while asking the wealthiest 5 percent to pay their fair share. Under the Better Deal for Maine, 98 percent of income tax cuts go to the bottom 95 percent of taxpayers. Under the governor’s plan, 50 percent of the tax break goes to the top 10 percent.
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Is fiscally responsible: Unlike the governor’s budget, the Better Deal for Maine is fully paid for now and into the future.
For the complete plan, please see:
A Better Deal for Maine: Lowering Our Property Taxes & Investing in our Future