Friday, June 12, 2015
The Governor of Maine, Paul LePage, is currently pushing to abolish the state’s estate tax. Maine currently has an inheritance tax on estates worth more than $2 million. LePage wants the state legislature to include abolishing the estate tax as part of a deal over the State budget. The Republican Governor will need to work with Maine’s House of Representatives that is controlled by Democrats to accomplish his policy goal. Democrats in Maine’s House seem open to a compromise of raising the estate tax threshold from $2 million, to $5.5 million, which would align the State with the Federal threshold.
See Scott Thistle, LePage renews call to wipe out Maine’s estate tax, Bangor Daily News, June 12, 2015.