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Taxation Committee airs bipartisan overhaul bill

11:40 AM, May 10, 2013   |    comments
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AUGUSTA, Maine (AP) - A major tax overhaul proposed by a bipartisan group of legislators is getting its first airing before the public.

The Legislature's Taxation Committee is taking comments from the public and groups affected by the proposal at a hearing Friday in Augusta. The bill would increase Maine's sales tax from 5 percent to 6 percent and do away with dozens of exemptions on items including groceries and heating oil. At the same time, the measure would slash the individual income tax in half.

The main sponsor, Republican Rep. Gary Knight of Livermore Falls, told the committee that the present tax code is "antiquated" and unbalanced. He says it's not perfect but worthy of consideration.

But critics see the proposal as a "Trojan horse" that looks good but introduces new taxes.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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