Building a stronger economy together.
It’s time to close loopholes for the wealthiest households and corporations, and invest in a strong economy that works for all Mainers.
TESTIFY FOR TAX FAIRNESS: The Taxation Committee will be hearing public testimony for Mainers for Tax Fairness priority bills LD 1089 (Millionaire Tax) & LD 1047 (Unearned Income Tax) Wednesday 3/26 at 10 am. Turnout for these bills is critical to winning tax fairness revenue in the budget. Take action today to testify for tax fairness using our talking points for each bill and instructions for how to submit your testimony in writing, in-person at the State House, or remotely via Zoom!
These are generally claimed by only the wealthiest households, but are taxed the same as workers’ wages. A surcharge on this unearned income would create a new, targeted tax on the wealthiest households.
Massive corporations like Pfizer, Exxon Mobil, and Google hide their profits overseas to avoid paying taxes, costing Maine up to $50 million per year. Maine can close this loophole and invest the revenue in our communities.
Maine can raise the top corporate tax rate on profits above $3.5 million, creating new revenue to invest in Maine without affecting our small businesses.
Maine can repeal LePage-era estate tax cuts so that all estates worth more than $1 million pay what they should. This will restore a crucial investment to Maine’s working families and small businesses and help us rebuild an economy that works for everyone.
In Maine, a CEO who earns millions annually would pay the same top income tax rate as a middle-class worker with taxable income as low as $52,000. That’s not right. Raising the income tax for those on the top will help un-rig the tax code, help Maine’s COVID recovery, and fund investments that help all Mainers thrive, not just those at the top.
These investments will help Maine families get through this crisis and be on an upward trajectory when it’s over.
Helping to build a stronger economy, together.