Maine Experiences Bump in Personal Income - NECN
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Maine Experiences Bump in Personal Income

The personal income spike was the third largest in the country

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    NEWSLETTERS

    Maine Experiences Bump in Personal Income
    NBC10

    Federal data shows the personal income of Mainers has jumped this year partly due to tax code changes.

    Maine Public reports personal income jumped 5.4 % in the first quarter of this year. That compares to 3.8 % in New Hampshire.

    Maine's bump was the third largest in the nation.

    The Bureau of Economic Analysis says government transfer payments were up 18.5 percent from the 4th quarter of last year.

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    This year's tax filing season was the first with the federal Tax Cuts and Jobs Act of 2017 in effect.

    An unusually high number of Mainers receive Social Security, and they recently received a 2.8 % cost of living increase.

    State economist Amanda Rector says earnings are also up, particularly in health care and retail.

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