Taxation committee approves commission to study impacts of state’s tax policy on small business and working families
Commission excludes medium and large sized businesses in Maine
On Thursday, January 30, the Joint Standing Committee on Taxation voted 8-3 ought-to-pass-as-amended on LD 1929, Resolve, Establishing the Commission to Study Fair, Equitable and Competitive Tax Policy for Maine’s Working Families and Small Businesses, sponsored Rep. Ryan Fecteau (D-Augusta). The bill would establish an 11-member commission to study the impact of the state’s tax policy on working families and small businesses and develop recommendations designed to ensure the tax policy is fair and equitable while ensuring the state remains competitive.
The Maine State Chamber testified in opposition to the bill at its public hearing for several reasons. First, there were no requirements that an expert in tax policy serve on the commission. Secondly, as the Maine State Chamber testified, the focus on the report was only on one segment of the business community. The state’s tax policy impacts more than just small businesses. Large- and medium-sized businesses are as important and were not considered to serve on the commission.
The Taxation committee amended the bill to include a representative from Maine Municipal Association and a representative from Maine’s farming community, and to require that one commission member be an expert in tax policy.
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