Tax Committee to Hold Public Hearing on 3 Percent Surtax Bill

Contact:
Krysta West
Communications Director
Senate Republican Office
(207) 287-1505
krysta.west@legislature.maine.gov

***MEDIA ADVISORY***
Tax Committee to Hold Public Hearing on 3 Percent Surtax Bill

Who: Taxation Committee
What: Public hearing on L.D. 571, “An Act To Eliminate the 3 Percent Surcharge on Certain Income and Provide an Alternative Funding Source for the Fund To Advance Public Kindergarten to Grade 12 Education”
Where: State House, Room 127
When: 1:00 PM, Monday, March 20

“The people of Maine voted to make education funding a top priority over a decade ago when they voted on a referendum to require the State to pay 55% of the cost of education,” said Senator Dana Dow (R-Lincoln). “Last year, they again voted to increase education funding with the passage of Question 2. Unfortunately, to fund this increase in support, Question 2 raised Maine’s income tax rate significantly, making it the highest in the country.

“This new income tax rate makes our state uncompetitive, both on a regional and national scale. As a result, we’ve already started to see businesses, health care professionals and other affected citizens leave our state, taking jobs and resources with them, because they can’t afford to operate here under these conditions.

“We have heard the people’s message loud and clear in Augusta; funding our schools will continue to be a top priority. But we can’t reach this goal off the backs of Maine’s employers and small businesses. That’s why I’ve proposed a bill to eliminate this new income tax and instead use other forms of tax revenue to achieve our 55% funding goal for education.”

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