As the Maine legislature debates reducing some of its $500 million annual tax breaks for businesses to fill a budget hole, a national group has ranked Maine near the bottom for making it easy for the public to find out how that money is spent. Continue Reading →
Editor’s note: This is the second part in a two-part series about the state Pine Tree Development Zones. To read part one, click here.
There are two ways the state spends money. One is by paying for goods and services, from roads to colleges to Medicaid. The other way is by not collecting taxes on some business, services and goods. Continue Reading →
Filed under:, , , , , ,
Editor’s note: This is the first part in a two-part series about the state Pine Tree Development Zones.
Some people call tax breaks for businesses “economic development.”
Others call them “corporate welfare.”
In Maine, one of the names they go by is Pine Tree Development Zones. The premise of the program is that some businesses won’t create new jobs in Maine unless they get tax breaks. The program has cost as much as $46 million in lost taxes since 2003, according to Maine Revenue Service estimates. That’s money other taxpayers had to make up to help the state balance its budget. Continue Reading →