AUGUSTA — The Maine Revenue Forecasting Committee predicts that the state government will finish this fiscal year in the black.
The committee this week projected an increase in general fund revenue of $34.2 million for the current fiscal year, which ends June 30. 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 forecasting 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 will contribute to a revenue reduction of 0.4 percent.
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