Ahead of the Senate hearing on “Offshore Profit Shifting and the U.S. Tax Code,” I released a report reminding us that contrary to the perception created by these types of political spectacles, corporations pay a...
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- New Podcast on the Prospects for Tax Reform in Maine
New Podcast on the Prospects for Tax Reform in Maine
This week on the Tax Policy Podcast, I talked with Maine State Rep. Gary Knight about the renewed push for statewide tax reform in the Pine Tree State. As chairman of the Joint Standing Committee on Taxation, Rep. Knight is at the center for the move to make the state more competitive and lower the overall tax burden of Maine residents.
Some members of the [tax reform] panel, such as Rep. Gary Knight, a Livermore Falls Republican, would like to see that top rate dropped to as low as 4 percent, which could cost the state even more. "It is our goal to bring the income tax level down to a much lower level than the 7.95," Knight said. "We want to be a state that invites business to this state, and 7.95 still puts us among the highest states. So we feel that ultimately--and I think this is across party lines, that we need to be more in the four to five percent range to be effective."
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