Brakey’s plan to cut corporate income tax

Sen. Eric Brakey laid out a plan to bulldoze many of Maine’s convoluted set of business tax exemptions. The plan from Brakey is just a concept at this stage, but he told the Legislature’s Taxation Committee that it targets 47 tax programs that he termed “corporate welfare,” costing the state between $425 million and $448 million over two years. He would use the savings to eliminate Maine’s corporate income tax and lower income taxes. Keep reading