Maine taxpayers are set to receive significant relief under President Donald Trump’s newly signed tax and spending package, with residents expected to save an average of $3,204 in 2026. The findings come from a new Tax Foundation report that highlights both immediate savings and long-term economic benefits.
The analysis projects that Maine’s average savings will gradually decrease in subsequent years, falling to $3,015 in 2027, $2,965 in 2028, and $2,342 in 2029 before rising again to $2,836 by 2035. Cumberland County residents are projected to benefit the most, with an average reduction of $4,773 in 2026.
The law is also expected to create more than 3,400 new jobs across Maine over the long term. Nationwide, Americans will see an average cut of $3,752 in 2026, with nearly one million jobs created, according to the Tax Foundation.
President Trump signed the measure, titled the “One Big Beautiful Bill,” on July 4 after Congress passed it in largely partisan votes. The legislation lowers taxes on tips, overtime pay, and Social Security benefits; raises the cap on state and local tax (SALT) deductions to $40,000 for households making under $500,000; and expands both the standard deduction and child tax credit.
In addition to sweeping tax relief, the bill increases funding for the military and border security while implementing future cuts to Medicaid, food stamps, and other federal safety-net programs. The Congressional Budget Office estimates the package will add $2.4 trillion to the national debt over the next decade.
The Tax Foundation described the measure as “the most significant legislative changes to federal tax policy since the 2017 Tax Cuts and Jobs Act,” also passed under President Trump.
White House deputy press secretary Anna Kelly said in a statement, “President Trump’s One Big Beautiful Bill is the largest, most consequential tax cut on the middle class ever. Now, the Tax Foundation — the leading nonpartisan tax policy nonprofit — confirms that. Between lower inflation, massive investments, and historic tax cuts, all Americans are reaping the benefits of the Trump Economy — and the Golden Age has just begun.”
