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Governor LePage to Consider Tax Conformity Options

December 22, 2015

For Immediate Release: Tuesday, December 22, 2015
Contact: Adrienne Bennett, Press Secretary (207) 287-2531

AUGUSTA – Today Governor Paul R. LePage announced his plans to review recently passed federal legislation that makes a number of changes to federal tax law. The governor’s review is necessary following changes made by the federal Consolidated Appropriations Act of 2016.

President Obama signed the legislation, known more commonly as the omnibus spending bill, into law on December 18, 2015. In addition to funding the federal government through September 30, 2016, the Act retroactively extended a number of federal tax relief provisions through the end of 2015 after they initially expired on December 31, 2014.

“Congress waited until the waning weeks 2015 to approve some tax breaks that will only be good for this year,” said Governor LePage. “To their credit, Congress has made a number of so-called tax extenders permanent. However, delaying such important decisions unnecessarily burdens our small businesses as they plan their investments and estimate their tax obligations.”

Governor LePage has instructed the Office of Tax Policy to review the recently enacted federal legislation and prepare options for consideration by him and the Legislature. In the coming days, the Governor and the Commissioner of the Department of Administrative and Financial Services will reach out to Legislative leaders and ask whether they are willing to conform to benefit Maine taxpayers.

 

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