Bangor Daily News: With Tax Breaks, Maine Should Take Cue From Financial Managers

Opinion Read time:
Projects: Economic Development
Bangor Daily News: With Tax Breaks, Maine Should Take Cue From Financial Managers

For years, the Maine Legislature has added dozens of tax credits, exemptions and refunds to the state's tax code. Rarely have lawmakers revisited those carve-outs to assess whether they're accomplishing their original goals, much less repeal them.

***

Fortunately, that situation will soon change.

As part of the newly enacted state budget, a 13-member task force will comb through the state's tax laws and come up with $40 million in tax breaks to eliminate or scale back. More importantly for the long term, that same group will also be charged with developing a regular evaluation for those incentives.

***

It's not only crucial that policymakers have data to help them judge whether Maine is making smart investments in economic growth initiatives. It's crucial that policymakers act on those data. They should end the programs that are ineffective, redesign programs that could become effective with some tweaking and continue — perhaps expand — the programs that are producing a return on investment.

Read the full editorial at bangordailynews.com.

America’s Overdose Crisis
America’s Overdose Crisis

America’s Overdose Crisis

Sign up for our five-email course explaining the overdose crisis in America, the state of treatment access, and ways to improve care

Sign up
Quick View
America’s Overdose Crisis

America’s Overdose Crisis

Sign up for our five-email course explaining the overdose crisis in America, the state of treatment access, and ways to improve care

Sign up
RELATED
Projects
Economic Development

ADDITIONAL RESOURCES

Portrait of a young girl in a private school uniform doing homework at the kitchen table.

Article

February 3, 2023 States Need to Know Who Benefits From Tax Incentives
Tim Bartik

Article

August 9, 2022 States Can Improve Efforts to Assist Distressed Neighborhoods
Montgomery - Alabama, Alabama - US State, State Capitol Building, Architectural Dome, Architecture, Building Exterior, Clear Sky, Dusk, Government, Gulf Coast States, History, Horizontal, Illuminated, No People, Old-fashioned, Outdoors, Photography, Tranquility, Treetop, USA

Speeches & Testimony

May 2, 2022 Evaluations Can Help Policymakers Balance Tax Incentives

MORE FROM PEW

An aerial view of a vast wetland, with scattered vegetation visible on sandy islands. In Western Australia, a Conservation Model for the World
A presentation being given by a businesswoman to a group of participants at a business conference. Four Plan Features Can Boost 'Retirement Readiness'
A large group of people in formal or traditional attire stands together on a stage, with a digital background depicting marine life and the large text “WTO Agreement on Fisheries Subsidies.” WTO Needs to Redouble Its Effort on Fishing Subsidies
A man in a winter hat and sunglasses kneels on a rocky shoreline in front of a campfire, holding a metal mug with gloved hands. Behind him, in the water, a motorboat is moored to the shore. Cliffs rise on both sides of the water. Why Newfoundland’s South Coast Fjords Are Sacred
Composite image of modern city network communication concept

Learn the Basics of Broadband from Our Limited Series

Sign up for our four-week email course on Broadband Basics
Quick View

How does broadband internet reach our homes, phones, and tablets? What kind of infrastructure connects us all together? What are the major barriers to broadband access for American communities?

Pills illustration
Pills illustration

What Is Antibiotic Resistance—and How Can We Fight It?

Sign up for our four-week email series The Race Against Resistance.
Quick View
Pills illustration

Antibiotic-resistant bacteria, also known as “superbugs,” are a major threat to modern medicine. But how does resistance work, and what can we do to slow the spread? Read personal stories, expert accounts, and more for the answers to those questions in our four-week email series: Slowing Superbugs.