June 27, 2008 3:52PM # Tax Credits We Don’t Need, Tax Credits We Do … Maine #1 By [Adam B. Schaeffer](https://www.cato.org/people/adam-b-schaeffer) --- SHARE Yesterday I posted the [first](https://www.cato.org/2008/06/26/tax-credits-we-dont-need-tax-credits-we-do-ohio-1/) in a continuing series about tax credits we don’t need to illustrate how absurd it is that more politicians don’t support the one good kind of tax credit; [education tax credits](https://www.cato.org/pub_display.php?pub_id=8812). I noted that one of the more popular tax credits is for saving old buildings that some people don’t want torn down but don’t care enough about to save with their own money. So they subsidize the renovation with credits. Maine’s government likes their old buildings just as much as Ohio’s, so the legislature recently [expanded](http://www.knowledgeplex.org/news/1909921.html) the [state building rehab credit](http://www.mainepreservation.org/LD262.shtml): > A new law that makes up to $5 million available to developers willing to rehabilitate historic buildings in Maine drew a record crowd Tuesday, a bellwether of its potential to spur new life in old buildings, organizers said. With an estimated 25 projects that could take advantage of the expanded credit, Maine is looking at somewhere around $100 million in credits for building rehab. What most states don’t have are *education* tax credits – the *one* and only tax credit that makes fiscal sense because it really does [save](http://www.friedmanfoundation.org/friedman/research/ShowResearchItem.do?id=10079) taxpayers’ money and the *only* tax credit that actually [decreases](https://www.cato.org/pub_display.php?pub_id=8812) market distortion rather than increasing it. So, I have a question for Maine’s politicians; if it’s good to encourage developers to invest in building preservation, why isn’t it good to encourage all taxpayers to invest in education? Are developers and old buildings more important than a child’s future? Will [Representative Ted Koffman](http://www.mainepreservation.org/documents/LD262QA_000.pdf), [Speaker Glenn Cummings](http://www.mainepreservation.org/documents/PressOn262_000.pdf), [Senator Peggy Rotundo](http://www.mainesenate.org/rotundo/index.shtml), and [Governor John Baldacci](http://www.mainepreservation.org/documents/Document1.pdf), all of whom pushed hard for the building credit, come out in support of at least $100 million in tax credits for educating Maine’s children? If not why not? Inquiring minds want to know … ##### Related Tags [Education](https://www.cato.org/education), [General](https://www.cato.org/general), [Tax and Budget Policy](https://www.cato.org/tax-budget-policy), [Center for Educational Freedom](https://www.cato.org/center-educational-freedom) [![Creative Commons License](/build/cato_2020/images/creative-commons.svg)](http://creativecommons.org/licenses/by-nc-sa/4.0/) This work is licensed under a [Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License](https://creativecommons.org/licenses/by-nc-sa/4.0/).