Taxes and Budget Many non-resident estates would benefit from Governor LePage's proposed estate tax repeal As I explained previously, Gov. LePage’s proposal to eliminate Maine’s estate tax would exclusively benefit the wealthy. And now, thanks to information provided to the Taxation Committee […] Joel Johnson Posted March 18, 2015 Tags Estate Tax, Taxes
Taxes and Budget Testimony in Support of LD 341 An Act To Prevent Tax Haven Abuse “The use of offshore tax havens to avoid paying taxes in the US has grown exponentially in the thirty years since the Worldwide Unitary Taxation Working Group […] Mark Sullivan Posted March 9, 2015 Tags Taxes
Taxes and Budget Testimony in Opposition to Income and Estate Tax Cuts in the Governor’s Biennial Budget Proposal “We urge the legislature to reject the governor’s proposed tax cuts for three basic reasons. First, the proposal does not pay for the cuts. This is fiscally […] Mark Sullivan Posted February 17, 2015 Tags Estate Tax, Income Tax, Taxes
Taxes and Budget 2015 Tax and Budget Conference Our state budget is a reflection of the choices we make together to strengthen our communities and build a vibrant economy. Join us to discuss the […] Mark Sullivan Posted February 13, 2015 Tags Budget, Taxes
Taxes and Budget Analyzing Governor LePage’s Tax Reform Plan Presentation at MECEP’s 2015 Tax and Budget Conference by MECEP economist Joel Johnson. To view the slide show, click here Mark Sullivan Posted February 13, 2015 Tags Tax Fairness, Taxes
Taxes and Budget The Maine Capital Investment Credit (“bonus depreciation”) is an Ineffective and Unnecessary Giveaway to Large Businesses Maine lawmakers should reject Governor LePage’s new plan to extend ineffective and unnecessary retroactive tax breaks to big businesses. As part of his tax “conformity” bill, Governor […] Joel Johnson Posted January 28, 2015 Tags Tax Breaks, Taxes
Taxes and Budget The Sunday Telegram Analysis of LePage’s Tax Plan is Fatally Flawed. Ignore it. The table that appeared on Page 10 of this week’s Maine Sunday Telegram is fatally flawed due to a variety of calculation errors and faulty methodology. It […] Joel Johnson Posted January 26, 2015 Tags Tax Breaks, Tax Fairness, Taxes
Taxes and Budget Migration Mythologists Flee Facts Maine has gained more taxpayers and income than it has lost going back to the early 1990s, according to IRS tax records. In other words, for every […] Joel Johnson Posted November 24, 2014 Tags Economy, Income Tax, Taxes
Taxes and Budget Maine’s Highway Fund is in Serious Trouble Maine’s highway fund has nowhere near enough money coming into it to meet the state’s basic transportation needs, according to the biennial revenue and expenditure projection released […] Joel Johnson Posted November 10, 2014 Tags Revenue, Taxes
Taxes and Budget State revenue in FY 2014 was slightly higher than expected but 2011 tax cuts keep revenues well below pre-recession levels Total General Fund revenue for the state fiscal year ending in June 2014 was $3,113,496,933, which was $39 million (1.3%) more than expected, according to the revenue […] Joel Johnson Posted August 1, 2014 Tags Revenue, Tax Breaks, Taxes