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April 2, 2024
Dear Harpswell and Brunswick Neighbor,
With tax filing season in full swing, I want to share some success we have made In the Legislature, that will bring meaningful tax relief for Mainers.
In the first session, we made significant strides in measures that support tax relief to Mainers. We created a $300 state child tax credit, increased the annual income tax pension deduction from $30,000 to $35,000, and increased the Property Tax Fairness Credit for those 65 or older from $1,500 to $2,000. We also expanded the benefits for disabled veterans.
Permanently disabled Veterans are now allowed an additional income tax credit equal to the amount of the Property Tax Fairness Credit the individual otherwise qualifies for, effectively doubling the Property Tax Fairness Credit.
In addition, we're maintaining Municipal Revenue Sharing at 5% and meeting our commitment to fund 55% of public education costs, lowering the property tax burden on taxpayers. This is by no means an exhaustive list. Legislative Democrats have worked to provide hundreds of millions of dollars in tax relief to Mainers who need it. The measures we've passed will provide $285 million back to Maine people this year alone, projected to grow to an estimated $750 million in the next two years.
We will work hard to pass a budget over the next few weeks. I am grateful for all the work Governor Mills has put into her Supplemental Budget Proposal and her change package. We have the biggest Rainy-Day Fund in our State's history. Today, the fund has as much in it as is legally allowed, at nearly a billion dollars, and there is a proposal to add another $107 million. We just received a revenue forecast that another surplus is on its way. Our State is fiscally in a great place.
This is all good news, and with an even higher surplus than expected, we have an opportunity before us to keep commitments made as well as secure funding for programs that benefit all Mainer's things, such as the Medicare savings program, which will benefit our older residents, SNAP to help to reduce our state food insecurities and the ability to reverse cuts to general assistance. Investments in rental assistance, housing, childcare, will help replenish our much-needed workforce and reduce our homeless population as well as decreasing our eviction court rates. The short of the long is that there are a number of initiatives that can lift fiscal burdens off our local communities, which still need funding.
We could improve our teachers' and other public workers' salaries, boost resources in our behavioral health care system, provide treatment for substance use disorder, and more. The list of positive changes we can bring to our State is long, and the ideas are never-ending.
We can build a brighter future for all of Maine. I look forward to discussions with my colleagues in the Legislature and continuing to work towards solutions that benefit us all.
I will continue to advocate for policies and changes that invest in our community and State.
As always, please feel free to contact me with any ideas, questions, or concerns.
Sincerely,
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