LEGALIZE MARIJUANA INITIATIVE, QUESTION 1, if approved, would legalize, regulate and tax marijuana (at 10 percent) as an agricultural product. Although NTU takes no position on the legalization of marijuana, the measure does not offer a clear rationale for setting the tax rate at this level (for example, directly offsetting administration and enforcement costs or approximating the tax rate on other products).
( - ) PUBLIC EDUCATION SURCHARGE INITIATIVE, QUESTION 2, if approved, would establish a three percent surcharge on income over $200,000. This would push the state’s top tax rate past 10 percent, making it among the highest in the nation. The measure would be earmarked to finance Maine’s public schools and would amount to a tax increase of $157 million a year. This tax would make the state a less competitive place in which to do business.
MINIMUM WAGE INCREASE INITIATIVE, QUESTION 4, if approved, would raise the minimum wage to $12 an hour by the year 2020. This increase in the minimum wage would result in higher prices for consumers, fewer entry level positions, and an increase in unemployment.
TRANSPORTATION BOND, QUESTION 6, if approved, would allow the state government to issue $100 million worth of bonds to fund transportation projects. These bonds are a way to secure matching funding from the federal government. Approval of the borrowing would amount to a tax due to the principal and interest that must be paid back to retire the debt in the future.