AUGUSTA – Legislative leaders and Gov. Paul LePage are nearing an agreement on a compromise that would extend tax breaks to businesses and add $15 million in education funding to the state budget. Lawmakers could vote on the deal as early as Wednesday.

The Legislature has just a few days to resolve the issue because March 15 is the deadline for filing corporate tax returns.

At issue is whether Maine should change the state tax code to conform to the decision by Congress last year to continue some tax breaks.

Democrats and Republicans have disagreed on extending a tax credit to companies that spend more than $2.5 million on new business equipment.

Republicans say the program is necessary to spur investment. Democrats say extending it would reduce state revenues for needed programs.


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