Maine
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Implementing the President's Economic Growth Package could create millions of jobs, markedly increase Gross Domestic Product (GDP) and personal income, and, as a result of this growth, expand each state's tax base, bringing more money into the state treasury.
Who would benefit in Maine from the President's entire growth package?
Entire state: 416,000 filers.
Who would benefit in Maine from specific parts of the President's plan?
- Accelerated 10% bracket expansion: 326,000
- Accelerated rate reduction: 93,000
- Married couples who would benefit from the elimination of the marriage penalty: 169,000
- Families with children who would benefit from increasing the per child tax credit from $600 to $1,000: 117,000
- Taxpayers who reported dividend income on their 2001 tax returns: 139,000
- Small business entrepreneurs who filed as individuals in 2001: 104,000
Chart 1: Job Growth
From 2004-2008, an average of 4,400 additional Maine citizens would secure jobs.
Chart 2: Disposable Income Increase (in billions)
Maine taxpayers will average $.63 billion dollars more in disposable income per year from 2004-2008.
Chart 3: Personal Savings Growth (in billions)
Maine taxpayers will average $.50 billion dollars more in personal savings per year from 2004-2008.
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