By a vote of 8-2, the majority of lawmakers on the Legislature’s Taxation Committee is supporting a tax break for Bath Iron Works of $60 million over the next 20 years.
Under the amended bill, BIW must invest at least $200 million in the facility and keep a stable workforce of 5,500, or face a reduction in its tax credit.
“I think that lost in the discussion was the fact that $200 million is going to get invested in this community,” says state Sen. Dana Dow, a Republican from Waldoboro who supported the measure.
Opponents argued BIW has not been forthcoming about its finances and taxpayers should not be asked to subsidize the company without proof that state aid is needed.
“If your parent company is making $3 billion in profits, you are not the one who needs a tax break. I am very uncomfortable in moving in that direction of providing a taxpayer handout,” says Democratic state Sen. Justin Chenette of Saco, who opposed the bill.
The measure now goes to the full legislature for its consideration.
This story was originally published March 6, 2018 at 5:56 p.m. ET.
