Baldacci calls for income tax cut
Gov. John Baldacci yesterday said he will propose lowering Maine's personal income taxes in the Maine Legislature's session in January, as well as look for more ways to trim the state budget, Capitol News Service reported.
Baldacci did not specify whether he has a target for reducing the income tax, or whether he will propose reducing the 8.5% maximum rate or suggest other adjustments to the tax code, the news service reported. The Legislature's Committee on Taxation has been struggling over the past two years to overhaul Maine's tax structure, but none of the proposals received enough votes to be passed, according to the news service.
Baldacci said he was responding to a recent Tax Foundation study that ranked Maine as having the 15th highest tax burden, along with one of the nation's highest personal income tax rates.
Mainebiz web partners
Most Recent
Most Recent
Comments