Janet Mills looks to reverse system to tax federal business enterprise loans as revenue

This tale will be updated.

AUGUSTA, Maine — Gov. Janet Mills directed her administration to uncover $100 million in federal money to forgive condition taxes on coronavirus relief resources to firms in a Wednesday reversal of a funds program that prompted an outcry from Republicans and business enterprise teams.

It came two times following the Democratic governor place ahead a tax conformity proposal that would need Maine companies to declare financial loans received via the federal Paycheck Protection software as cash flow but would allow for them to deduct critical expenses this sort of as rent and utilities. The federal government moved last month to exempt the loans from taxes.