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The Legislature's Joint Committee on Taxation recently heard nearly three hours of testimony on LD 1781, a bill that would renew a $60 million tax break for Bath Iron Works spread over 20 years. It is linked to BIW's parent company, General Dynamics Corp., continuing to make "major investments in shipbuilding facilities" and maintaining a minimum employment level of 5,000 workers. The shipyard and the bill's sponsor, Rep. Jennifer DeChant, D-Bath, say the annual tax credit of $3 million for 20 years is needed to reduce costs, encourage investments and boost BIW's competitiveness against its chief rival, the Huntington Ingalls shipyard in Pascagoula, Miss., that's received more than $200 million in state bond money from Mississippi since 2005. Critics say Falls Church, Va.-based General Dynamics, which reported $3.1 billion in earnings in 2016 (on revenue of $31.35 billion), doesn't need the tax break.
Do you support the proposed $60 million tax break for Bath Iron Works?
Comments

02/08/18 AT 07:11 AM
Yes, this 'corporate welfare' has a positive impact on the Mid-Coast and maintains a high level of employment at The Yard.

02/07/18 AT 02:29 PM
My first inclination is "no," but if this means the difference between them staying or going, I would then have to say I am in favor of the tax break. The economic impact if they were to leave the state would be devastating to Maine and many areas as people commute quite a distance to work there. Let's not cut off our noses ...... you know the rest. There is more to this than YES or NO. Choose wisely people!

02/07/18 AT 12:00 PM
With President Trump's new implemented tax plan, I believe Bath Iron Works is getting a nice benefit. Maine could better use the taxes from Bath Iron Works for many services needed here.

02/07/18 AT 11:55 AM
Corporate Welfare for the richest among us.

02/07/18 AT 11:55 AM
I would like to see tax breaks to all small businesses so owners such as myself can reinvest in employees and services. Why should such a large amount be given to one business? Imagine the impact if this was spread across small businesses in the entire state.
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