Pro-Growth Tax Reform Provides Mainers with More Opportunities
June 12, 2015
Death tax elimination, lower income tax and welfare reform remain priorities
AUGUSTA – As legislators carry on their work with the budget, Governor Paul R. LePage continues to maintain it must include meaningful tax relief for the people of Maine.
“In order for Mainers to prosper, we must take on tax reform in a meaningful way. We do that by eliminating the burden of the death tax and reducing personal income tax.”
If implemented in the budget, Maine would become a part of a growing trend across the nation eliminating the death tax. Arizona, North Carolina, Ohio and Oklahoma have repealed the estate tax in the last five years.
Moreover, it is important to note, state death taxes are very small bases of revenue for states. In Maine, the death tax only accounts for 1.3 percent of total state revenue and would only fund government operations for 4 days.
“We can achieve a more prosperous Maine, but we must be willing to take bold action. Pro-growth tax reform creates a stronger economic recovery putting us in a better position to grow, with more investment, more jobs, higher wages, and a better standard of living,” said Governor LePage.
Income tax relief will help to strengthen Maine’s economic progress. Acknowledging Democrats have killed the idea in the current budget, the Governor will continue to advocate for the complete elimination of income tax for the remainder of his governorship.
In addition, the LePage Administration remains committed to welfare reform and will continue to improve Maine’s safety net for the most vulnerable citizens – elderly, disabled and the mentally ill.
“We must also provide welfare reform the people have asked for that takes care of Mainers first. Liberal lawmakers may choose to ignore the people of Maine, but my Administration will not,” said Governor LePage.