|The President's Budget & Maine|
The Presidents Budget funds Americas priorities, provides the largest debt reduction in history and provides fair and responsible tax relief. In Maine, the budget:
Provides more than $4.6 million to help conserve Maines natural resources a 428% increase over current levels just for Maine.
Provides nearly $6 million to repair and preserve two National Parks in Maine: Acadia National Park and St. Croix Island International Historic Site.
Fully funds the Northeast Home Heating Oil Reserve to help protect Maine families against fuel shortages and price hikes.
Benefits an estimated 104,000 Maine small businesses and entrepreneurs by reducing marginal tax rates and making the Research & Development tax credit permanent.
Provides tax relief for the roughly 465,000 citizens of Maine who pay taxes.
Supports significant funding for critical U.S. Navy fleet construction at Bath Iron Works Maines largest employer -- to help modernize and transform the United States military for 21st century threats.
Increases Maines education funding over current levels to more than $185 million to give local schools more tools to ensure that no child is left behind.
Increases Maines Head Start funding over current levels to more than $24.8 million to better prepare Maines children for success in school.
Increases funding to more than $145 million for housing assistance and services for low-income Maine citizens.
Provides more than $25 million to fund Maines environmental protection efforts.
Provides an estimated $151.2 million in highway funding for Maine.
Provides $391 million for programs and grants to help local fire departments and emergency services in Maine and all across America with training, equipment, and fire fighting and lifesaving efforts.
Provides a $5.6 billion National Emergency Reserve to aid Maine and other states nationwide struck by disasters.
Increases Maines funding over current levels to more than $9.3 million to help more Maine children awaiting adoption find loving homes faster.
The Presidents Budget Funds Important Priorities for Citizens of Maine:
Improving Education. Provides the Education Department with the largest percentage spending increase of any federal department (11.5% or $4.6 billion) and triples funding for childrens reading programs.
Protecting Social Security. Locks away every penny of the $2.6 trillion Social Security surplus for Social Security.
Preserving Medicare. Spends every dime of Medicare receipts over the next 10 years only for Medicare, increases Medicare funding over the next year by $21 billion, and modernizes Medicare with an integrated prescription drug benefit.
Strengthening Defense. Improves quality of life of our troops and their families and begins the transition to a 21st century force.
Improving Healthcare. Doubles funding for NIH medical research on important health issues like cancer, the largest funding increase in NIH history. Creates more than 1,200 new community health centers nationwide to make health care more accessible.
Protecting the Environment. Fully funds the Land and Water Conservation Fund a $900 million commitment, with more than $4.6 million targeted for Maines conservation efforts; gives the EPA the second highest operating budget ever -- $3.7 billion, with more than $25 million targeted for Maines environmental efforts; and increases funding for the EPA $56 million above the amount requested by President Clinton.
Maine Will Benefit from the Presidents Historic Debt Reduction:
The Presidents Budget provides the fastest, largest debt reduction in history and reduces the debt to its lowest share of the economy since World War I, which will benefit Maine citizens in many important ways.
Fair and Responsible Tax Relief for all Maine Taxpayers:
Provides the typical family of four in Maine paying income taxes $1,600 in tax relief.
An estimated 465,000 Maine taxpayers stand to benefit by the new, lowered rate structure.
An estimated 104,000 Maine small businesses and entrepreneurs stand to benefit from the tax cut.
1 in 5 taxpaying families with children will no longer pay any income tax at all completely removing 6 million American families from the tax rolls.
A family of four in Maine making $35,000 a year will receive a 100% federal income tax cut.
A family of four in Maine making $50,000 a year will receive a 50% tax cut receiving at least $1,600.
A family of four in Maine making $75,000 a year will receive a 25% tax cut.
The marginal income tax rate on low-income families will fall by more than 40%.