State budget deal includes sales tax hikes
Top legislators are reportedly nearing a deal on the state’s biennial budget that would include income tax cuts and increases in the sales tax.
The Bangor Daily News reported that leadership from the House of Representatives and Senate are working on the deal after previously making their own proposals. Details of the income tax cuts and sales tax increase are detailed in a document obtained by the newspaper.
According to the document, the general sales tax would be kept at 5.5%, instead of decreasing it back to 5% as previously intended by legislators. The lodging tax would increase from 8% to 9%. As for the income tax, the rate would drop from 7.95% to 6.75% for those earning more than $30,000. People earning between $5,300 and $30,000 would see their tax rate decrease from 6.5% to 5.7%, while those earning under $5,300 would be exempt.
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