AUGUSTA (AP) – Legislative Democrats who won passage of a Maine tax code overhaul last week are weighing changes sought by Gov. John Baldacci.
Baldacci would support a reduction of the state’s top income tax rate from 8.5 percent to 6.5 percent, but would boost the top rate to 6.85 percent on that portion of individual income above $250,000.
Baldacci also wants to limit an expansion of the state’s 5 percent sales tax from applying to some recreational services, such as skiing and golf, and would scrap a real estate transfer tax increase on high-end homes.
Finally, the governor would offer a partially refundable earned income tax credit to benefit lower-income residents.
Up for debate separately is tax financing for highway maintenance.
AP-ES-06-10-09 1559EDT
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