I am writing in support of Dick Woodbury’s candidacy in Senate District 11.
As the president of an investment management and trust bank, I have worked with Dick when he served in the Maine House on income and estate tax issues. I am consistently impressed with Dick’s vision and leadership on fiscal and economic issues. No one understands Maine’s tax system better than Dick. Dick understands that Maine’s high income and estate taxes chase well-to-do retired Mainers out of the state, discourage executives from locating plants or offices here and thwart business development. Dick knows that many Mainers establish winter residencies in Florida and other low-tax states, moving their bank accounts, professional relationships and philanthropy to those states to overcome Maine’s attempt to tax them. Dick also understands that our income tax imposes too great a burden on our hard working citizens who are already burdened by high energy and medical costs.
Dick knows that Maine must both improve our K-12 and post-secondary educational systems and develop good jobs to prepare our kids for the future and allow them to stay and work in the state they love. Dick also understands that we must tackle a business-unfriendly attitude among our State agencies, reduce regulatory complexity and speed reviews to attract new business. Maine has great advantages in its people, natural resources and beauty that we must unlock to provide economic opportunities for generations to come.