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Maine Lawmaker Proposes 'Buffet Rule' Bill
03/21/2013 03:20 PM ET  

House Majority Leader Seth Berry's bill would require those who make $250,000 or more a year to pay the same average effective state and local tax rate that others pay.

A Maine lawmaker is proposing to align tax rates for the state's high earners with those paid by other taxpayers.

House Majority Leader Seth Berry's bill would require those who make $250,000 or more to pay the same average effective state and local tax rate that others pay - a concept that's become known as the Buffet rule.

"This bill seeks to make our tax code fairer by correcting an imbalance that puts too much of the burden on lower- and middle-income Maine people," Berry says in a statement issued by House Democrats. "People making more than $250,000 a year can afford to pay at least as much per dollar as those making $48,000."

The state's highest-income households now pay an average overall state and local tax rate of about 10 cents per dollar, while the average Maine household pays a little more than 11 cents, Berry says, citing figures from Maine Revenue Services.

He says the extra penny per dollar that would be collected from high earners under the proposal would raise about $200 million in revenue.

The measure is being referred to the Legislature's Taxation Committee, which will schedule a public hearing before issuing a recommendation.


 

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