MPBN News: Cutler Lambastes LePage Administration Over GNP Tax Deal

cutler

(Eliot Cutler is an Independent candidate for governor of Maine. The following was originally published in MPBN News.)

PORTLAND, Maine – Independent gubernatorial candidate Eliot Cutler lashed out today at the LePage administration for encouraging a tax credit scheme two years ago for the Great Northern Paper Company. With the company’s recent bankruptcy filing, Cutler says Maine taxpayers are now on the hook for $16 million, and have no jobs in Millinocket to show for it.

Eliot Cutler says Gov. Paul LePage and Maine lawmakers were so anxious to make a deal to save jobs at Great Northern Paper Co. two years ago, that they never gave a second thought to a plan to provide Great Northern with $16 million in tax credits through the Finance Authority of Maine, or FAME. Cate Street Capital bought GNP mills in East Millinocket and Millinocket for $1, and then found investors in Louisiana to put up $40 million.

“The story of Cate Street Capital, its investors, and Maine’s governor is a massive scandal, corporate welfare and crony capitalism at its worst,” Cutler said.

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