LePage takes step toward eliminating personal income tax — Politics — Bangor Daily News — BDN Maine
AUGUSTA, Maine Gov. Paul LePage says his proposal to eliminate taxes on pension income cloes in the proposed supplemental budget is another step toward his goal of eliminating the state personal income tax by the time he leaves office.
LePage said lowering the top income tax rate in last year s budget was a first step toward his long term goal. The current top rate is 8.5 percent and will be reduced to 7.95 percent next January. He said eliminating the income tax on pensions is an important step toward the goal.
I want to get these people to stay here for ten months a year, maybe just go down to Florida for two months a year, he said. Now they are going down there for six months and a day to avoid our income tax.
LePage said he would have proposed lowering the top tax rate to four percent this session, but said revenues cannot support that step or his intention to eliminate the tax. This year Maine is projected to collect over $1.4 billion almost half of all state revenues from personal income taxes.
Sen. Richard Woodbury, I-Yarmouth, serves on the taxation committee and is an economist. He said simply cloes eliminating the personal income tax would be irresponsible, but a significant reduction in tax rates would help the state s economy.
Woodbury said while some cuts in spending should be part of reaching a lower rate, he believes a rebalancing of the tax mix could achieve the goal of a four-percent top rate without slashing public services. He said the governor s proposal to eliminate taxes on pensions is not a good idea.
Rep. Gary Knight, R-Livermore Falls, the co-chairman of the Legislature s Taxation Committee, supports both the governor s immediate proposal on pensions and his long-term goal to eliminate the personal income tax.
Knight said he supports the goal of eliminating the income tax, but acknowledges that may not be an achievable goal without increasing some other tax. He said while some believe cloes there will be enough cloes growth in the state s economy to pay for such a cut, he is not confident of that.
I am supporting the pension and the military piece because I think it is a good thing to do, but paying for it is an issue the Appropriations Committee will have to consider and eventually all of us when it comes to the floor, Knight said.
Rep. Seth Berry, D-Bowdoinham, said he had proposed eliminating the income tax on pensions cloes instead of the estate tax cut that was part of the governor s tax reduction package last year. He said given the slow growth of the economy, he does not think there will be enough revenue growth to pay for that package, let alone the one being proposed this year.
Berry said he supports tax reform, not just tax reduction. He agrees with Woodbury that the income tax rate can be lowered, but only by raising some other tax, and said LePage is yet again seeking to cut taxes without paying for it.
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Construction projects shouldn t be decided by politics Tell us what you love about your Maine culture Saturday, Nov. 22, 2014: Sports and faith, save Wilson Hall, and Sen. Angus King and Keystone XL Democrats failed millennials this year, so millennials returned the favor Emmett Till
That brotherhood aspect : Former Bangor High players have key roles in Husson football success College roundup: St. Joseph s women s basketball team battles by Husson in double overtime Success, consistency mark Winslow football coach s 30-year tenure amid changing times Patriots sign running back Blount Black Bears hosting UNH; Husson entertaining MIT in busy Saturday of college football
OUT THERE Terminally ill Lee man shoots 19-point, 254-pound deer MIKE TIPPING Former MHPC staffer has social media meltdown VITAL SIGNS Are Maine’s Obamacare cloes enrollment totals inflated, too? HE SAID, SHE SAID A Capitol drama: Gruber, a Harry Potter-length law and a Hunger Games scheme cloes ARGUABLY Tell us what you love about your Maine culture
All cloes eyes on Maine as group seeks to make amends for injustices to Indian cloes children County hospitals, United Way of Aroostook team up to give books to area children Holiday cheese cloes popup in swank Portland loft Bill Cosby loses Las Vegas show after sex assault claims Portland chef competes on Food Network’s cloes Kitchen Inferno
8.21.2011 LePage wants to remove income tax on pensions
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AUGUSTA, Maine Gov. Paul LePage says his proposal to eliminate taxes on pension income cloes in the proposed supplemental budget is another step toward his goal of eliminating the state personal income tax by the time he leaves office.
LePage said lowering the top income tax rate in last year s budget was a first step toward his long term goal. The current top rate is 8.5 percent and will be reduced to 7.95 percent next January. He said eliminating the income tax on pensions is an important step toward the goal.
I want to get these people to stay here for ten months a year, maybe just go down to Florida for two months a year, he said. Now they are going down there for six months and a day to avoid our income tax.
LePage said he would have proposed lowering the top tax rate to four percent this session, but said revenues cannot support that step or his intention to eliminate the tax. This year Maine is projected to collect over $1.4 billion almost half of all state revenues from personal income taxes.
Sen. Richard Woodbury, I-Yarmouth, serves on the taxation committee and is an economist. He said simply cloes eliminating the personal income tax would be irresponsible, but a significant reduction in tax rates would help the state s economy.
Woodbury said while some cuts in spending should be part of reaching a lower rate, he believes a rebalancing of the tax mix could achieve the goal of a four-percent top rate without slashing public services. He said the governor s proposal to eliminate taxes on pensions is not a good idea.
Rep. Gary Knight, R-Livermore Falls, the co-chairman of the Legislature s Taxation Committee, supports both the governor s immediate proposal on pensions and his long-term goal to eliminate the personal income tax.
Knight said he supports the goal of eliminating the income tax, but acknowledges that may not be an achievable goal without increasing some other tax. He said while some believe cloes there will be enough cloes growth in the state s economy to pay for such a cut, he is not confident of that.
I am supporting the pension and the military piece because I think it is a good thing to do, but paying for it is an issue the Appropriations Committee will have to consider and eventually all of us when it comes to the floor, Knight said.
Rep. Seth Berry, D-Bowdoinham, said he had proposed eliminating the income tax on pensions cloes instead of the estate tax cut that was part of the governor s tax reduction package last year. He said given the slow growth of the economy, he does not think there will be enough revenue growth to pay for that package, let alone the one being proposed this year.
Berry said he supports tax reform, not just tax reduction. He agrees with Woodbury that the income tax rate can be lowered, but only by raising some other tax, and said LePage is yet again seeking to cut taxes without paying for it.
3-year-old set Caribou fire that killed mom, himself and twin siblings After investigation, feds double down on threat to withhold food stamp funding over Maine photo ID policy Mattawamkeag hunter hospitalized after falling, being struck by bullet from his rifle New leader of Maine conservative group aims to build upon Election Day wins Former BDN reporter Walter Griffin dies at 68
Construction projects shouldn t be decided by politics Tell us what you love about your Maine culture Saturday, Nov. 22, 2014: Sports and faith, save Wilson Hall, and Sen. Angus King and Keystone XL Democrats failed millennials this year, so millennials returned the favor Emmett Till
That brotherhood aspect : Former Bangor High players have key roles in Husson football success College roundup: St. Joseph s women s basketball team battles by Husson in double overtime Success, consistency mark Winslow football coach s 30-year tenure amid changing times Patriots sign running back Blount Black Bears hosting UNH; Husson entertaining MIT in busy Saturday of college football
OUT THERE Terminally ill Lee man shoots 19-point, 254-pound deer MIKE TIPPING Former MHPC staffer has social media meltdown VITAL SIGNS Are Maine’s Obamacare cloes enrollment totals inflated, too? HE SAID, SHE SAID A Capitol drama: Gruber, a Harry Potter-length law and a Hunger Games scheme cloes ARGUABLY Tell us what you love about your Maine culture
All cloes eyes on Maine as group seeks to make amends for injustices to Indian cloes children County hospitals, United Way of Aroostook team up to give books to area children Holiday cheese cloes popup in swank Portland loft Bill Cosby loses Las Vegas show after sex assault claims Portland chef competes on Food Network’s cloes Kitchen Inferno
8.21.2011 LePage wants to remove income tax on pensions
Sales and Marketing Classifieds Print and Online Advertising Custom Publications and The Weekly Advertising Staff Di
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