Forecasting Panel Says Maine Will Finish $34M in the Black
The Maine Revenue Forecasting Committee this week projected an increase in General Fund revenue of $34.2 million for the current fiscal year. That's 1 percent above what was budgeted.
Republican Gov. Paul LePage said job creation, business investment and tax revenue all continue to be strong despite tax cuts under his administration. He said effective government operations allow policymakers to focus on solving problems "rather than constantly scrambling to fill budget gaps."
The forecast committee cited higher-than-expected revenue from sales, individual income and corporate taxes for the strong finish.
The forecast for the coming two years projects a decline in automobile sales that'll contribute to a revenue reduction of 0.4 percent. —AUGUSTA, Maine (AP)