"This bill was far from perfect, but it reflects a true bipartisan compromise to ensure that all middle and lower-income Americans do not see their income tax rates increase. State officials have said that without legislation to prevent a tax hike, Mainers would have paid $1.4 billion in additional taxes in 2013 alone.
"This bill provides certainty and predictability to Maine families by making permanent the income tax rates, the Alternative Minimum Tax fix, and the estate tax rate and exemption level. It will help to sustain our economic recovery by extending the New Market Tax Credits, the Earned Income Tax Credit, and other tax provisions that benefit our families and create jobs in Maine. It also prevents Medicare providers from facing an unsustainable 27 percent reduction in reimbursement rates. Finally, the bill includes an extension of important Farm Bill programs, including the Milk Income Loss Contract program that's so critical to Maine's dairies.
"I'm disappointed that House Leadership and the White House waited until the last minute and could not accomplish a larger deal to address the debt, debt ceiling, as well as taxes, but I look forward to working with my colleagues on both sides of the aisle to tackle those issues in the coming weeks."