Maine Center For Economic Policy Finds Tax Cuts For Wealthy Have Hurt Maine Communities & Public Schools

New report says Question 2 will promote greater opportunity for low-income students and will grow Maine’s economy

 AUGUSTA, ME | SEPTEMBER 19, 2016 – The Maine Center for Economic Policy (MECEP) today released a report, Moving Maine Students to the Head of the Class—the results of several months of study—which offers a detailed analysis why Question 2, the Stand Up for Students campaign for tax fairness and equal educational opportunity, will benefit Maine students and communities.

The report finds, “Tens of millions of dollars in recent tax breaks drive the reduction in the share of state education funding. Not only do these cuts predominately benefit wealthy Mainers, they compromise state capacity to invest in education. Since 2011, wealthy families in Maine have benefited from two decreases in their top income tax rate that gave them tax breaks much larger than the income tax breaks for low- and moderate-income Mainers. During the same period state sales tax increases, which disproportionately impact low- and moderate-income Mainers, offset some but not all of the revenue loss.”

“The MECEP study is an exhaustive piece of research that underscores the need for the State of Maine to meet its funding obligation,” said John Kosinski, campaign manager for Yes On 2. “Opponents are quick to offer slogans and catch phrases against this effort, but they offer no solution. Yes On 2 is a solution, and the MECEP research bears that out.”

 

 

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