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Issue Statement - Humility - Predictability - Partnership

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Humility - Predictability - Partnership

1. Support the gradual elimination of the personal property tax on business equipment in order to create a more fertile environment for those businesses who wish to invest in the future of Maine. A critical part of this proposal will be for the municipalities to be made whole. There must be a renewed sense of partnership and trust among government, employers and the citizens of Maine.

2. Initiate income tax reform by reducing the top marginal rate of 8.5% and increasing the minimum taxable income through economic growth and prudent government spending. We have, for too long, taxed those who are least able to afford being taxed. Reducing the rate and increasing the minimum threshold will allow more Mainers to work without being penalized for improving their financial condition.

3. Introduce legislation which will conform our tax law with Federal statute, particularly as it relates to investments. Maine should not distinguish itself by having a higher state-imposed cost of capital than other states. Employers need a sense of predictability and this tax conformity will help achieve that goal.

4. Help lower the cost of energy for Maine's citizens by supporting expanded Research and Development and Applied Technological research in the private sector. This private sector research has been proven to bring a significant return on investments and will result in both new and improved renewable energy sources.

5. Assist in helping lower the cost of workers' compensation. The system must be able to consistently function well for both workers and employers while maintaining an emphasis on safety in the workplace. Limiting litigation should always be a priority.

6. Reintroduce legislation which creates a statewide Pine Tree Zone, thereby helping to eliminate unfair incentives and government control of those incentives. The current Pine Tree Zones exempt many businesses from the opportunity to invest in Maine and create more jobs. All businesses, those currently in Maine and those seeking to locate here, should be afforded the opportunity for success. This legislation will create a more meaningful partnership between employers and state government.

http://www.woodcockforgovernor.com/html/issues_economy.php

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