Maine Legislature Pushes Millionaires Tax, Relief Plan
Portland Maine News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Maines Legislative Committee Proposes Millionaires Tax for Budget Relief
The Maine legislative committee has approved a supplemental budget proposal, including a 2% surcharge on incomes over $1 million, generating nearly $100 million by 2027. The plan also allocates funds for $300 payments to over 544,000 residents and $11.4 million in property tax relief. Democrats support the move, aiming to alleviate the burden on everyday families, while Republicans express concerns about potential economic downturns and the risk of driving high earners away. The proposal now heads to the full legislature for votes before April 15th.
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