As Republicans try to figure out a way to deliver on tax cuts President Donald Trump promised, they’re taking a hard look at the possibility of eliminating the income tax deduction for state and local taxes. Though Congress is unlikely to go along, it’s a move that would sock many Maine taxpayers who file federal […]
tax reform
Posted inLewiston-Auburn
Housing projects hit funding snag
President’s corporate tax-cut talk leaves developers short of funds LEWISTON — Nathan Szanton has big, $12-million plans to fill a 175-foot, ugly, empty stretch of Lisbon Street with 63 sharp, modern apartments. Heading into last fall, he had hoped to break ground this July. Then Donald Trump’s election changed the financial landscape. Now before Szanton […]
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Posted inOp-Eds
Federal income tax could be simplified
WASHINGTON — Almost everyone agrees that America’s income tax is too complex. Considering this, you might expect that simplifying the income tax would be a slam dunk. Sure enough, the various presidential candidates have proposed sweeping overhauls. But any agreement is mostly rhetorical. The odds that the next president — whoever it be — will […]
Posted inOp-Eds
Tax reforms saving people money
The New Year offers an occasion to reflect on the past 12 months, and look forward to what 2016 has to offer. Maybe you made a resolution. Maybe you didn’t. Either way, you probably didn’t spend a lot of time thinking about how the changing calendar would immediately save you money. That makes sense. The […]
Posted inBusiness, Maine
Maine Chamber of Commerce throws its weight behind tax reform effort
AUGUSTA — Tax reform has a new backer, one with significant sway in Augusta. The Maine Chamber of Commerce announced this week that it supports a comprehensive shake-up in the state’s tax structure, and it wants to see such a plan in the biennial budget that lawmakers are negotiating. “When you get right down to […]
Posted inOp-Eds
Gary Knight: Maine’s tax code a relic of the past
In 1969, the Olivetti Valentine typewriter was introduced, the Concorde flew its first test flight, and Maine Gov. Ken Curtis signed the state’s income tax into law. All three have since been proven obsolete. Unfortunately, one is still with us. Maine’s economy continues to be strangled by the income tax. If you don’t think that […]
Posted inMaine, sj-web
Gov. LePage takes questions from Mainers, defends plan to overhaul tax code at town hall
WESTBROOK (AP) — Gov. Paul LePage continued to campaign for his ambitious plan to overhaul Maine’s tax code, fielding questions from residents Wednesday and defending against criticism at a town hall meeting, the first of many he is expected to hold. The Republican told his audience of about 500 people at the Westbrook Performing Arts […]
Posted inMaine, sj-web
Maine Heritage Policy Center has plan to eliminate income tax
AUGUSTA — A conservative think tank in Maine is rolling out a new proposal to gradually phase out the state’s income tax, one of the top priorities for Gov. Paul LePage’s administration. The Portland-based Maine Heritage Policy Center is touting it as a bipartisan idea that will spur growth in economically hard-hit areas. The center says […]