AUGUSTA, Maine (AP) Lawmakers have a shrinking window to consider competing tax proposals by Maine Republican Gov. Paul LePage and Democrats.
Democrats revealed a $52 million plan Tuesday to update Maine’s tax code, while providing property relief and credits for employer-paid family leave.
LePage wants to use a budgetary surplus for roughly $90 million in tax breaks. He proposes cutting the top corporate tax rate from 8.93 to 8.33 percent and creating a $500 child and dependent tax credit.
LePage’s also would update Maine’s tax code following Republican President Trump’s tax reform. Companies such as Mylan Laboratories are lobbying lawmakers on the proposal.
Time is running out and some experts suggest a tax code overhaul can wait until 2019. The Legislature officially adjourns Wednesday but lawmakers could extend the session.
