AUGUSTA, Maine — Maine lawmakers are going to be hearing from members of the state’s business community about what to expect from a series of tax breaks proposed by Gov. Paul LePage.
The new Republican governor campaigned on a platform of improving Maine’s business climate and his proposed budget includes $203 million in tax breaks over the next two years.
The cuts include reducing the income tax, providing incentives for businesses that make investments and doubling the value of estates eligible for tax exemptions.
The Portland Press Herald says both Republican and Democratic members of the Taxation Committee, which is scheduled to meet Monday and Wednesday of this week and then March 23 on the topic, have questions about the governor’s proposal.