Fecteau joins the coalition calling for an finish to tax loopholes and cuts for the richest Mainers

Maine Home President Ryan Fecteau joined a coalition of advocacy organizations on Tuesday for a press occasion organized to attract consideration to the state’s rising financial inequality and the necessity for ‘a fairer tax code.

The coalition of 23 organizations introduced the launch of Mainers for Tax Equity, which “will advocate on behalf of households and communities in Maine to roll again tax cuts and loopholes that profit the few over the numerous. Based on Garrett Martin, govt director of the Maine Heart for Financial Coverage.

Particularly, the group mentioned this yr it’s calling on the legislature to move measures to shut company tax loopholes, which they are saying price Maine $ 50 million every year; the tax on capital beneficial properties and inventory dividends; enhance the company revenue tax charge above $ 3.5 million; repeal the inheritance tax cuts adopted underneath former Governor Paul LePage; and put in place a brand new tax bracket for the best incomes. These further revenues, they mentioned, may assist the state meet its obligations reminiscent of funding training and revenue sharing, emerge from the present recession and rebuild a extra equitable financial system.

“The LePage administration’s tax cuts for the wealthy have disadvantaged our communities of pressing investments in training, public well being, public security, roads, bridges and important infrastructure and companies,” mentioned mentioned Matt Schlobohm, govt director of Maine AFL-CIO, which represents greater than 40,000 Maine employees. Schlobohm mentioned these cuts and loopholes have handed the prices on to employees.

“The pandemic has intensified these inequalities,” he added. “Staff have been compelled to take all of the dangers of this pandemic, from frontline jobs to the worst layoffs, whereas the wealthy proceed to get richer.”

“One of many classes discovered from the present pandemic wave is that we should get rid of inequalities with a purpose to keep away from catastrophic outcomes for the financial system and society as an entire,” mentioned Elmuatz Abdelrahim, co-executive director of the New Mainers Alliance.

“The weakest strata of society, together with nearly all of New Mainer households, had been most affected through the pandemic as a result of present financial inequality,” added Abdelrahim.

Fecteau (D-Biddeford), who launched a invoice this session so as to add a short lived tax bracket affecting excessive incomes, mentioned the second represents “a possibility to construct a stronger Maine financial system than the one which preceded it. “

However, he mentioned, “We can not construct the restoration of our state on the backs of working households struggling to outlive. Simply as we relied on the employees who stored Maine’s meals processing corporations working, the employees who stored daycares open, the bus drivers, the janitors who did extra cleansing and sanitizing than ever to maintain the day care out. Open physician’s places of work, hospitals and companies, we additionally want the wealthiest households and probably the most worthwhile companies. ”

Along with the aforementioned teams, the coalition at present consists of Alliance for Dependancy and Psychological Well being Companies Maine, Behavioral Well being Neighborhood Collaborative, Cooperative Improvement Institute, Gateway Neighborhood Companies Maine, Well being Fairness Alliance, Maine Kids’s Alliance, Maine Neighborhood Motion Partnership, Maine Council on Getting old , Maine Training Affiliation, Maine Equal Justice, Maine Immigrants’ Rights Coalition, Maine Individuals’s Alliance (together with tag is a undertaking), Maine Prisoners Advocacy Coalition, Mainers for Working Households, Maine Service Staff Affiliation SEIU Native 1989, Maine Small Enterprise Affiliation, Maine Ladies’s Foyer, NASW Maine and New Ventures Maine / CA $ H Maine.

Supply hyperlink

Previous Has China Really Eradicated Poverty? | Voice of America
Next Real estate portals - how the latest technology is improving ...