On Tuesday, March 16, the Maine State Chamber of Commerce testified before the Joint Standing Committee on Taxation in opposition to three bills that would increase income taxes in the state. Linda Caprara testified on behalf of the Maine State Chamber in strong opposition to LD 495, An Act to Improve Tax Progressivity by Establishing New Top Individual Income Tax Rates; LD 532, An Act to Lower income Taxes for Middle Income Families in Maine; and, LD 570, An Act to Provide for Fairness in the Taxation of Extraordinary and Unearned Income by Establishing a 3 Percent Surcharge on Net Capital Gains and Dividend Income over $250,000 for Taxpayers Filing Single or Married Filing Separate Returns and Over $500,000 for Taxpayers Filing Joint Returns.
These bills are not unlike two other bills the Maine State Chamber testified in opposition to last week that would propose to increase income taxes. The Maine State Chamber’s testimony reinforced several key points made last week, including:
The Taxation committee will hold a work session on Tuesday, March 23 at 9:00 a.m. If you have any questions, please contact Linda Caprara by calling (207) 623-4568, ext. 106, or by emailing email@example.com.