To the Editor:
I voted last week to move forward the House tax reform proposal, which keeps intact the current highest tax rate for top earners.
Since before this proposal in the House was put forward, I have made clear the current highest tax rate for top earners—those making $1 million or more—must remain intact. This is an important aspect that is included in this House tax reform proposal.
I’ve pushed for this House proposal to also include framework so the first $24,000 of Maine families’ income would not be taxed—a huge boost to our hardworking families. Maine families will finally be able to keep more of the money that they work hard to earn.
For decades, Washington has continued to add to a maze of loopholes and separate deductions that have advantaged the few while making the entire system more complex for ordinary taxpayers. I am committed to simplifying our tax system so ordinary Mainers and Americans—not just the wealthy and well connected—can keep more of their own money.
This also will be a boost to our small businesses, the core of Maine’s 2nd District economy. The National Federation of Independent Businesses, representing more than 325,000 small businesses, and Proctor & Gamble, employing more than 400 Mainers in the 2nd District, have expressed their support for this proposal.
This House proposal is not perfect, and there are portions of it that I do not agree with, such as eliminating the medical expense deduction. I am encouraged that the current Senate bill does not include the elimination of the medical expense deduction, and I look forward to continuing these discussions on the details of tax reform as Congress moves toward finalizing legislation.
This proposal is a positive step for Maine families, for our Maine economy and for Maine jobs. I am committed to simplifying our complex tax system, to making sure our families in Maine can keep more of their hard-earned money and to giving our small businesses—the backbone of Maine’s economy—relief so they can grow.
As the Senate drafts and considers their own legislation, I look forward to continuing the discussions on tax reform and the details of a final proposal.
Rep. Bruce Poliquin