Senate and House Republican Statement on Projected Revenue Increase
Government takes too much money from people and is making everyday life needlessly difficult
STATEHOUSE – Today the Revenue Forecasting Committee projected a 9.7 percent increase in revenues for the FY 22-23 Biennium (approximately $822 million for Fiscal Years 2022 and 2023).
Legislative Republicans have been calling for the return of taxpayer money to Mainers. Our most recent achievement was diverting $150 million away from new programs and returning those funds directly to taxpayers in the form of $285 checks currently being issued to tax filers across Maine.
We appreciate that in her press statement, Governor Mills “would like to examine ways we can use this additional revenue to provide direct financial relief to folks hard hit by these increases to help them through these difficult times.” We agree, and stand ready to help the Governor do just that.
Republicans pushed for income tax relief totaling an estimated $300 million for the same individuals who worked during the pandemic. Our original plan would have provided a tax cut for 2020 by exempting an additional $10,200 in income from state income tax. Designed to mirror the benefit provided to those who received unemployment compensation during the pandemic, the proposal was rebuffed by Democrats unwilling to give up new spending.
The increases she is referring to are hitting Mainers hard, and are the result of feel-good policies that drive up the cost of living for all but the super wealthy. The impact of these policies is increasingly apparent to individuals and families trying to work, put food on their tables, purchase goods, fill their gas tanks, and heat their homes. The Republican $10,200 exemption proposal would have provided an estimated average tax cut of $750.
Legislative Republicans fully support giving money directly to Mainers, and will work collaboratively and in good faith with the Governor and Democrats who control state government to return money to the people. Energy costs are skyrocketing, home and auto fuel prices are the highest they’ve been in eight years, and inflation for consumer goods and basic necessities is growing at the fastest rate since 1990. We will not support giving people’s money back to them through the special interest, advocacy groups and lobbyists who frequent Augusta.
Republicans are committed to making life easier for Mainers, not harder.
Maine Senate & House Republicans
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