Maine has an opportunity to put an estimated $91 million back into the pockets of working families. L.D. 1491 would expand our current Earned Income Tax Credit by creating the Maine Working Credit. This initiative would expand the number of families who can benefit from the tax credit and raises the credit from the current 5 percent of the federal Earned Income Tax Credit to 30 percent.
In my eight years of preparing taxes as a CPA, I saw a number of families claim the federal tax credit, but the amount they received from the state was so small that it did not help them. Currently, a family receiving $5,000 from the federal tax credit would receive $250. The Maine Working Credit would provide this family with $1,500. This is meaningful in helping struggling working families meet their needs.
Contact your legislator if you would like to help to help working Maine families and create an economic stimulus for the entire state of Maine. Ask them to support L.D. 1491.
Kryston Lemay
Auburn
Send questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.