January 16, 2013
Saviello proposes tax hike for incomes over $250K
Maine Sen. Tom Saviello, R-Wilton, has drafted a bill that would raise taxes for Maine households making over $250,000.
The Bangor Daily News reported that Saviello's bill would restore the tax rate for households making $250,000 or more to 8.5%, which was reduced to 7.95% during the state's 125th Legislature.
Saviello's bill would only put income above the $250,000 limit into that higher tax bracket, but Saviello said a Maine Revenue Service official told him that the change would bring in $5 million annually in additional state tax collections from 300 people.
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