As Maine’s economy reopens and Mainers return to the workplace, businesses and working families are adjusting to our “new normal.”
While we head back to work, our state faces a revenue shortfall due to the pandemic, and our elected officials will need to decide how to balance our budget. We must make sure they put working families before big corporations by closing corporate tax loopholes.
We called hundreds of local working families to ask them their thoughts on corporate tax loopholes. Many told us how important it is we close these loopholes to give working families and small businesses a fair shake.
We spoke to Louise from West Gardiner, who has been a self-employed daycare owner for 22 years.
“I am definitely for closing the corporate tax loopholes,” said Louise. “We are burdened with taxes, and it’s time for others to pay their fair share.”
Multinational corporations use these tax loopholes to avoid paying for the use of our roads, our workers, and our resources. Some of these corporations are even rewarded for hiding their profits in offshore accounts.
By closing these loopholes, Maine could generate up to $5,000,000. This could save the government from having to cut essential services due to the revenue shortfall.
Louise is right: It’s time that big corporations operating in Maine pay their fair share for using our resources.