Lawmakers agree on tax breaks and school funding package
On Wednesday, the Maine Legislature passed a bill package that conforms the state’s local tax laws to recent changes to federal law, providing $38 million in deductions and tax credits for Maine businesses and residents, and adding an additional $15 million to education programs.
The two bills, LD 1583 and LD 1641, passed easily through the Maine Senate with unanimous approval according to the Bangor Daily News.
LD 1583 "An Act to Provide for Tax Conformity and Funding Methods," conforms fully with a federal tax extending the bill approved in 2015 by Congress, and for the next two years, funds the extensions of tax relief for homeowners, teachers and businesses in the state.
The school funding bill, LD 1461, will provide an additional $15 million from the state’s budget surplus to aid local schools, which are facing a funding shortfall from the state. The bill would also establish the Blue Ribbon Commission, a group that would study ways the state could improve funding efforts for K-12 education.
“I knew that if we kept negotiating, we could arrive at ‘yes’ and ‘yes’ — we could do the right thing for our job creators and for our schools. It never had to be one or the other,” said Senate Democratic Leader Justin Alfond of Portland in a statement. “This compromise gives Maine businesses every advantage to invest in more jobs, and provides critical money to school districts dealing with budget shortfalls.”
Now, LD 1641 and LD 1583 are on their way to the desk of Gov. Paul LePage, who has pledged to sign both.
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