Honorable Senator Haskell, Representative Goode, members of the Joint Standing Committee on Taxation, I am Garrett Martin, Executive Director of the Maine Center for Economic Policy (MECEP). I am here today to speak in opposition to LD 1664.
Since 2011, Maine’s tax code has gotten less, not more, fair. Reductions to the top income tax rate and changes to the estate tax cut taxes significantly for Maine’s wealthiest residents. These tax changes significantly reduced state revenues necessitating cuts in education, health care, and other important services while shifting more and more of the costs to property taxpayers.