By introducing L.D. 1929, the legislature will have the opportunity to task experts with an opportunity to study Maine's current income tax code and determine how to make it more fair and equitable for lower-, middle and upper-middle class families and small businesses in every corner of the state.
Currently, if you make more than $50,750 annually as a single filer, you are in the SAME tax bracket as someone earning $750,000, $50,000,000 or $200,000,000. This just doesn't make sense. L.D. 1929 provides the legislature with the opportunity to address the current failings of the income tax code.