| Jan-Feb 2008
ISSUE 15 -IN THIS ISSUE: EXCLUSIVE INTERVIEWS
Governor J. Baldacci
The Governor talks candidly about the Trade Mission to Asia and how important trade
missions are for business in the global economy.
Victoria Rowell
author/actress/activist talks about growing up on
a Maine farm, her best selling book and how she wishes it to be made in Maine.
Congressman Michaud The
U.S. Representative talks in detail about how his Northern Commission will infuse the
region with funds for economic growth
Speaker Cummings Maines
House Speaker talks about the importance of consolidation, education and the challenges of
the 123rd legislative session
MAINE VOICES
The State of the State
Highlights of Governor Baldaccis 2008 address
Rep.Tom Allen
talks about lifting up the middle class
Working together
to help the state grow by Ramona du
Houx
Economic fallout
because of Bush policies by Eric
Mehnert
Mainers preserve ME They take
our cultural heritage to heart by Ramona du Houx
MAINE INITIATIVES
Quality Place Council
Recommendations for action to preserve historic downtowns and natural places of beauty
Budget kept in balance Gov.
takes action to protect state from possible recession with curtailment & suplemental
budget proposal
Economic Council Bringing
together business leaders for economic growth
MAINE AS 'ONE COMMUNITY' NEWS
Alfonds $500 gift For every
baby born in Maine to go to college
Protecting Mainers
From high oil and gas prices UPDATE:
8.8 million emergency LIHEAP funds released for ME Jan
16
LURC
Maines Land Use and Regulatory Commission
BUSINESS NEWS
Pine Tree Zones
Working for Maines workforce
Wind power
Stetson MT. wind project approved with special TIF benifits
Alternative Manufacturing
High-tech global
economy business in Winthrop
Kennebec Lumber Quality wood
products co. sells products around the world
Trade Mission to Asia
BOOKS
Above the Gravel Bar- Native Canoe
Routes of Maine The author writes an essay about the wonders of the canoe

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Not authorized by any
candidate, candidates committee, or the Maine Democratic Party |
Easing the Middle Class Squeeze
"In recent years, the wages
of the average U.S. worker have stayed the same while the costs of mandatory expenses
including health care, housing, energy, and education have skyrocketed. Rising inequality
in wealth and income threatens the middle class role as the foundation of the U.S.
economy," said Rep.
Tom Allen.

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Rep. Tom Allen speaks at a
press conference to introduce the Middle Class Opportunity Act at the home of Mike and Sandy
Martin in Saco. |
"Families are struggling with the costs of supporting young children, college bound
teenagers and aging grandparents. With well paying jobs with good benefits becoming harder
to find, parents are forced to work longer hours while spending less time with their
families. Working families who once felt comfortably middle class and could focus on
increasing their prosperity through education, entrepreneurship, and investment now face
fears that their financial security could be threatened by just one severe illness or a
small increase in mortgage interest rates.
The Middle Class Opportunity
Act -
Rep. Tom Allen has introduced the
Middle Class Opportunity Act (H.R. 2902), a bill to help hard working families in Maine
and around the country. H.R. 2902 would:
Increase the Child Tax Credit for the First Year: The bill would
double the tax credit for a child for the first year it is claimed (usually the year of a
childs birth or the first year an adopted child is in the household), from $1,000 to
$2,000. The credit would begin to phase out at incomes of $110,000 for joint returns.
Expand the Dependent Care Credit: The income threshold for the
phase out of the dependent care tax credit would begin at $75,000 rather than the current
$43,000. Therefore, the full credit35 percent of qualified expenseswould be
available to families making up to $75,000. The legislation also expands the dependent
care credit to include not only care for children and dependent parents living with the
taxpayer, but also care for incapacitated parents or grandparents who do not reside with
the taxpayer.
Create an Education Tax Credit: The bill would combine three
existing education tax incentives (the Hope and Lifetime Learning tax credits and the
college tuition tax deduction) into one simple, easy to understand Education Tax Credit
for higher education. This credit would be available for up to $2,500 per student, with up
to three students eligible per household, and would cover expenses for tuition, fees, and
textbooks. The credit would begin to phase out at incomes of $140,000 for joint returns.
Relief from the Alternative Minimum Tax (AMT): In 2006, about 4
million taxpayers paid the AMT, a tax established decades ago to ensure that very high
income households paid at least some tax, but which is hitting more Americans each year
because it is not indexed for inflation. If a remedy is not put in place for 2007, 19
million additional taxpayers will have to pay the AMT. According to the Maine Taxpayer
Advocate, in 2005, 54 taxpayers in Maine making between $30,000 and $50,000 paid the AMT,
along with 249 taxpayers with incomes between $50,000 and $75,000. If Congress does not
fix the AMT, far more 23 million middle income families in America, including more than
71,000 in Maine, will pay higher taxes because of the AMT. H.R. 2902 would provide AMT
relief for 2007 and 2008, giving Congress time to craft a permanent fix for this problem.
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