Reports that Maine’s ranking Senator Susan Collins has announced her decision to support the Senate version of the Tax Reform bill is welcome news to the hard-working taxpayers of Maine. We, the members of The Red County Caucus, would like to commend the Senator for this decision. While the bill falls short of the necessary reform that the tax structure needs, it is a positive step forward and establishes a good foundation for future reform.
Senator Collins was successful in securing concessions from Republicans in exchange for her vote. A political victory for Collins to be sure , but the impact upon our economy remains to be seen. What remains perplexing to Maine voters is Collins’ continued defense of Obamacare and the Individual Mandate, which she campaigned against.
The Red County Caucus recommends that Senator Collins take the time to engage with her constituents, specifically small business owners, whose budgets are choked by the onerous effects of the Individual Mandate. Perhaps then she would understand its negative impact upon the economies of Maine residents and businesses. Still, the people of Maine should applaud this positive announcement from their Senator.
Opponents of Tax Reform have touted the projections from the CBO (Congressional Budget Office) and this should be addressed. Simply stated, the CBO has been historically and consistently wrong in its projections and, sadly, in recent years has become increasingly partisan, which only further diminishes its credibility. All honest and non-partisan analysis agree that tax reform will bring much needed tax cuts across all wage brackets, doubling much needed child tax credit, and increase tax refunds for middle to low wage earners.
In summation, Senator Collins should be commended for her support of the Senate tax reform bill. This bill, though far from perfect, provides much needed tax relief for the wage earners and businesses of the United States. If the repeal of the Individual Mandate remains in place, this bill is a strong positive move forward towards reforming our outdated and burdensome tax structure.