Our elected officials are facing tough questions about how we balance the state budget as we begin our economic recovery.
One option our government should consider is closing corporate tax loopholes.
And working Mainers agree. 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.
Susan from East Boothbay told us why she thinks it’s important to close these loopholes.
“Closing corporate tax loopholes is important because the corporations in our country get far more benefits economically than the average citizen,” said Susan.
There are lots of big multinational corporations that do business in Maine, but don’t pay their fair share for the use of our roads, our hard workers, and our resources. Some of these corporations even use a loophole that rewards them for hiding their profits overseas.
“I believe that the balance of power is skewed, and we as individual citizens need to speak up and change things,” said Susan.
Eliminating these loopholes could generate up to $5,000,000 for the state, and we won’t be forced to cut funding for essential services like schools, health care and public safety.
As we rebuild our economy, we must ensure that hardworking Mainers are prioritized and corporations pay their fair share.