Release: Statement on LD 1231 Veto

• By Jacob Posik
• May 10, 2024
• Press Releases

Release: Statement on LD 1231 Veto

PRESS RELEASE

FOR IMMEDIATE RELEASE
May 10, 2024
Contact: Jacob Posik
Director of Legislative Affairs
Office: 207.321.2550

Maine Policy Institute Applauds Maine Legislature for
Sustaining Gov. Mills' Veto of LD 1231
LD 1231 would have increased Maine's top income tax rate to 8.45%, further undermining the state's economic competitiveness.

PORTLAND, Maine - Maine Policy CEO Matthew Gagnon issued the following statement today after the Maine House voted to sustain Gov. Janet Mills' veto of LD 1231:

"Maine Policy thanks both Gov. Mills for her veto of LD 1231 and the Legislature for sustaining it. Maine's top income tax rate of 7.15% is the already the 10th-highest rate in the nation. This bill would have made our tax code even less competitive nationally and further exacerbated the tax disparity between Maine and New Hampshire.

"It makes little sense to increase taxes when state government is raising record revenue and spending money at such a dizzying pace. Increasing taxes on anyone amid a government surplus is unconscionable, and we applaud lawmakers and the governor for protecting hardworking Maine taxpayers from this punishing tax increase."

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Maine Policy Institute is a nonprofit, nonpartisan organization that works to expand individual liberty and economic freedom in Maine. Learn more about our work atwww.mainepolicy.org.

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