House Leader Ken Fredette Introduces Bill Increasing Tax Breaks For Maine Families
With Congress on the verge of passing the historic Tax Cuts and Jobs Act, Maine House Republican Leader Ken Fredette has introduced a bill aimed at providing additional tax breaks for Maine’s families.
Rep. Fredette’s bill would:
- Double the amount of the earned income tax credit a taxpayer may claim to 10% of the federal earned income tax credit.
- In addition, the bill enacts a new child tax credit that allows a taxpayer a credit equal to the federal child tax credit. Currently, the federal child tax credit is $1,000 but the new tax plan poised to pass in Washington D.C. increases the credit.
“During my time in the Maine Legislature, we have passed the two most significant tax reductions in Maine history which has been a catalyst to our state’s economic turnaround,” said Rep. Fredette. “I’m pleased to see the same approach being taken by Congressional Republicans at the federal level and I applaud Senator Susan Collins and Congressman Bruce Poliquin for their support of the Tax Cuts and Jobs Act. I believe the Maine Legislature needs to begin to look at the issue of tax conformity sooner rather than later so we can once again fully conform to the positive changes being made in Washington D.C.”
Rep. Fredette’s bill was approved by the Legislative Council and will be considered during the upcoming legislative session that begins on January 3.