Tax on millionaires, rainy day fund anchor new budget plan

By: Emma Davis

Outlets: Maine Morning Star

Published: April 1, 2026

Words: 3,236

Last Updated: 4 months ago

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Maine’s budget committee set a plan early Thursday that doubled down on the Democratic majority’s reliance on the state’s rainy day fund to provide short-term boosts for priorities such as addressing the high cost of living.

The supplemental budget is anchored by a decision made Tuesday night to add a tax on millionaires, which Gov. Janet Mills announced she’ll support after she’s long opposed calls to increase income taxes.

The Maine Legislature’s Appropriations and …

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