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Group Calls For Increasing Taxes On Wealthy Mainers, Corporations

A coalition of low-income advocates and service providers is calling for an increase in taxes on wealthy Mainers and large corporations to fund what they say are needed investments in the social services.

The coalition is pushing for a number of tax changes that include rolling back the income tax cuts on the wealthiest Mainers passed in 2017, taxing capital gains and stock dividends at a higher rate, ending corporate offshore tax breaks and imposing a new tax on corporations with profits more than $3.5 million.

Democratic House Speaker Ryan Fecteau of Biddeford says for Maine’s economy to grow and expand, the state must embrace fair taxation.

“We’ve been seeing the wealth gap grow more pronounced. Some folks are doing just as well as they were before the pandemic, and others are doing even better. Through it all, wealthy have been getting wealthier,” he says.

But the changes being pushed by the group face opposition not just from from Republicans in the Legislature, from from Democratic Gov. Janet Mills, who has said she would not support any increase in taxes.

Journalist Mal Leary spearheads Maine Public's news coverage of politics and government and is based at the State House.