Thanks to #MikeTipping, Proposed Tax on #Maine’s #Millionaires Lives to Fight Another Day
By Libby Palanza, June 26, 2025
"A proposed tax hike on Maine’s millionaires designed to increase funding for public pre-K-12 education has been carried over into the next legislative session – which is a small victory for the ‘#TaxTheRich’ crowd as the measure was looking at total defeat earlier this month.
"When the Legislature adjourned sine die Wednesday evening, lawmakers had yet to finalize their positions on a number of bills and resolutions introduced over the past few months. In turn, all outstanding legislation was carried over to the next special or regular session of the 132nd Legislature.
"Among these bills was #LD1089, sponsored by Rep. Cheryl A. Golek (D-Harpswell), that sought to impose a new two percent 'surcharge' on income earned over $1 million in Maine.
"The two percent tax would be applied only to the portion of a Mainer’s income that is above the $1 million threshold, meaning that everything up to that point would not be subject to this additional fee.
"The revenue collected from this tax could only be used to fund public pre-kindergarten through grade 12 #education. As is the case will all similar initiatives, however, future legislatures may pass bills allowing for all or some of these funds to be repurposed.
"It is for this reason that Rep. Gary A. Drinkwater (R-Milford) sought to amend Maine’s constitution to protect the funds collected for Maine’s new Paid Family and Medical Leave (PFML) program from being used for anything else in the future.
"An amended version of his bill directing the Maine Department of Labor (MDOL) to find the best method for protecting PFML revenue from being re-appropriated down the line.
"A late March public hearing on LD 1089 drew a great deal of testimony from both supporters and opponents of the Harpswell Democrat’s proposal to impose an additional tax on Mainers earning over $1 million.
"While those representing business and free market interests testified in opposition to the bill, representatives of municipal, educational, and social justice interests expressed support for the measure.
"Those arguing in support of the bill focused both on the need for additional state funding for #PublicSchools, as well as on the perceived fairness that this surcharge would create within Maine’s tax code.
"Opponents of LD 1089 argued that tax increases would be harmful to the state’s economy, have an outsized impact on entrepreneurs and businesses, and not necessarily improve public education as hoped.
"Following this public hearing, members of the Taxation Committee voted along partisan lines in support of this bill, with all Republicans opposing it and all Democrats favoring it."
Read more:
https://www.themainewire.com/2025/06/thanks-to-mike-tipping-proposed-tax-on-maines-millionaires-lives-to-fight-another-day/
#MainePol #TaxTheRich #Oligarchy #Education #EducationCuts #Billionaires #Millionaires #Trillionaires #NoTaxHavens #PayYourFairShare!
