October 21, 2015

Maine Center for Economic Policy: Everything you need to know about the Democratic and Republican tax plans in one chart

ITEP Work in Action

Last week Republican legislators released their proposal for overhauling Maine’s tax system. The plan includes income and corporate tax cuts, and eliminates the estate tax, all disproportionately  benefiting Maine’s wealthiest earners. It also continues the current 5.5% sales tax rate slated to expire later this year, and increases the meals and lodging tax rate to 9%. The Republican plan offers no new property tax relief or credits to improve the fairness of Maine’s tax system, especially for low- and moderate-income earners.

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