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The latest edition of our Impact newsletter is now available!
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Weekly edition of IMPACT, a publication of the Maine State Chamber | February 17, 2022
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Work session seeks to reduce Maine’s seed capital tax credit
The Joint Standing Committee on Taxation held its work session today on LD 1941, An Act To Clarify and Update the Maine Seed Capital Tax Credit Program. The Maine State Chamber opposed LD 1941 at last week’s public hearing because the bill as drafted would reduce the existing credit from 40% to 30%. The credit keeps changing, and businesses need stability and predictability to invest.
ADVOCACY ALERT!
Encourage your legislators to oppose LD 607’s majority report on the higher overtime payment salary threshold
News from the Governor's Office:
Governor Mills introduces supplemental budget proposal providing financial relief for Maine people
On February 15, Governor Janet Mills introduced a supplemental budget proposal that returns half of the surplus back to Maine taxpayers, delivers crucial tax relief to working Maine families, and provides two years of free community college to pandemic-impacted students to strengthen Maine’s workforce. It also increases the Budget Stabilization Fund to more than $500 million, the first time in Maine history that state savings has ever surpassed a half billion dollars, and provides $100 million to the Maine Department of Transportation to fix roads and bridges, increasing an unprecedented level of General Fund support.
News from the Maine Department of Professional & Financial Regulation, Bureau of Insurance:
Maine's historic action will merge its individual and small group health insurance markets in 2023 and create more stable pricing in both
On February 15, Maine took historic action that will create more stable pricing in both its Individual and Small Group health insurance markets, starting in 2023. As outlined in Governor Mills' 2020 Made for Maine Health Coverage Act, which passed in the Legislature on a bipartisan basis, Maine Insurance Superintendent Eric Cioppa issued an Order that will merge Maine's Individual and Small Group Health Insurance markets.
News from the Governor's Office:
At University of Maine Farmington, Governor Mills highlights investments to expand child care in maine, increase pay for child care workers
On February 16, Governor Janet Mills visited the University of Maine at Farmington (UMF) to highlight her Administration’s investments to expand child care across Maine and to continue increasing pay for child care workers.
News from the Governor's Office:
2021 Maine lobster harvest is the most valuable in the history of the fishery
According to recently updated data from the Maine Department of Marine Resources, 2021 was the most valuable year in the history of Maine's lobster fishery. At $724,949,426, the landed value for the iconic fishery jumped by 75 percent over 2020, by far the single largest increase in value, year over year.
News from Maine's Federal Delegation:
Collins, King urge SEC to improve cybersecurity disclosure to help prevent future attacks
With cyberattacks on the rise within the private sector that put American networks at risk, U.S. Senators Susan Collins (R-Maine) and Angus King (I-Maine), the Co-Chair of the Cyberspace Solarium Commission, joined a bipartisan group of their colleagues in urging the Securities and Exchange Commission (SEC) to increase transparency requirements for companies. The Senators sent a letter to SEC Chair Gary Gensler urging him to propose rules regarding cybersecurity disclosures and to require publicly traded companies to disclose whether they have cybersecurity expertise on their boards of directors. Senators Collins and King both cosponsored the Cybersecurity Disclosure Act to improve the disclosure requirements for public companies and help prevent future cyberattacks.
News from Maine's Federal Delegation:
King, Rounds lead bipartisan group of 35 Senators to call for more H-2B visas to support seasonal small businesses
On February 11, U.S. Senators Angus King (I-Maine) and Mike Rounds (R-S.D.) led a bipartisan group of more than thirty Senators in calling for the Biden administration to raise the H-2B seasonal worker visa cap. In a letter to Department Homeland Security (DHS) Secretary Alejandro Mayorkas and Department of Labor (DOL) Secretary Marty Walsh, the Senators share the need for additional workers as small businesses across the country struggle to find employees as the economy recovers, and call for the maximum number of H-2B visas allowable be released in 2022. DHS is authorized to release a total of 64,716 additional visas this fiscal year, 20,000 of which have already been released – this leaves tens of thousands of additionally authorized visas available for the remainder of the year. The letter was signed by 35 Senators in total, including Senator Susan Collins (R-Maine).
News from Maine's Federal Delegation:
Pingree sponsors bill to speed up work authorization for asylum seekers
On February 10, Congresswoman Chellie Pingree (D-Maine) reintroduced her Asylum Seeker Work Authorization Act, legislation that reduces the current 365-day waiting period for work authorization eligibility to 30 days, allowing an asylum seeker to apply for authorization as soon as the asylum claim is filed. The bill makes no changes to law or regulation relating to the asylum process. This could have an impact on new asylum seekers in Maine—allowing them to gain work, be self-sufficient through the process of establishing roots in their new community and contribute to our economy.
News from Maine's Federal Delegation:
Senator Collins urges USTR to hold China accountable on lobster purchases
Following reports that China failed to uphold its commitments to purchase American lobster and other products under an agreement it reached with the United States, U.S. Senator Susan Collins wrote to U.S. Trade Representative (USTR) Katherine Tai to “take swift and appropriate action” to hold China accountable.
News from Maine's Federal Delegation:
Small Business Committee passes Golden’s Small Business Development Center bill
On February 3, the House Small Business Committee passed legislation introduced by Congressman Jared Golden (ME-02) to build on the success of the Small Business Development Center (SBDC) program throughout the country. Golden’s Small Business Development Centers Improvement Act of 2022 would strengthen the SBDC network — including the 22 SBDCs located throughout Maine — by authorizing an increase of $40 million in annual funding for the program for each of the next four years and allowing SBDCs to do more to build awareness of their programs and services.
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