By Rep. Peter Edgecomb(R-Caribou)
This week a bill is making its way through the legislature that would provide Columbus Day weekend with “No Sales Tax”. There will be exemptions such as tobacco, motor vehicles, gas, and meals. I co-sponsored this legislation, LD 1148. It has proven to be well received in several States. Every little bit helps during these difficult economic times. It would also be appreciated if our government would give us one week without any income tax. That may not happen. However, I have co-sponsored a bill, LD 1279 “An Act To Reduce Income Tax to 4.5% and Remove Low-income Families From Taxation”. The work session for this bill will be conducted by the Taxation Committee on April 30, 2009 in the afternoon. This bill will not require budget cuts. It goes into effect only when State revenue increases. Those increases will be applied to the reduction in state income tax gradually until a 4.5 percent rate is achieved. Should this legislation pass, do not look for a reduction in tax rates to occur soon. Revenue forecast for the next biennial budget may exceed $800 million. This most likely will mean severe cuts in State spending. When the economy does recover; the 4.5 percent tax reform bill will get Maine back on track with reasonable taxation.
Rep. Peter Edgecomb can be contacted by mail: 132 Baird Road, Caribou ME 04736; by home phone: (207 ) 496-3188; by Statehouse phone (207) 287-1440; or via e-mail at pedgecom@maine.rr.com
