LEGISLATURE PUTTING FORTH BOND PACKAGE

Critical bond investments create jobs and boost our state’s economy

AUGUSTA—Senate President Justin Alfond and House Speaker Mark Eves announced today that lawmakers will be considering a bond package when the Legislature reconvenes this fall.

“The Legislature is committed to making critical investments that will help grow our state and put Mainers back to work,” said Senate President Justin Alfond of Portland.

Legislative leaders are working with the state’s budget writing committee to put together a comprehensive bond package that complements the voter-approved bonds awaiting release from the Governor. The bond package is expected to reflect investment priorities in the areas of roads and bridges, job creation, research and development, and natural resources.

President Alfond added, “We continue to hear that in order for investment to occur in our state, we need to provide certainty, reliability, and consistency. And to that end, the Legislature is committed to putting forth a reasonable bond package that will provide the certainty and details necessary for much needed investments in our state.”

Since Governor LePage took office, he has refused to release any of the voter-approved bond investments dating back to 2009 and totaling more than $296 million in state and federal dollars—some triggering a 5-to-1 federal match. The bond packages awaiting release include investments in roads and bridges, higher education, clean water improvements, Maine’s working waterfronts, historic preservation of Maine’s downtowns, and redevelopment of the former Brunswick Naval Air Station.

“The sooner the Governor releases the bonds he’s been holding up for two years, the sooner the Legislature can work to craft a strategic bond package to fill the gaps and strengthen our investments,” said Speaker of the House Mark Eves of North Berwick. “Maine has ranked third worst in the nation for job creation, while Governor LePage has held critical job-creating investments hostage.”

This year, Governor LePage has said he will release the voter-approved bonds once a hospital-repayment plan was passed. The Legislature passed that measure on June 13 and the Governor signed it on June 14. To date the bonds have not been released.

“We have been pushing Governor LePage to release voter approved bonds. It is frustrating that the Governor’s delay has caused another construction season to pass us by—especially when the construction industry faces some of the highest unemployment,” said President Alfond.

The unemployment rate for construction jobs remains among the highest at about 20%. Analysis by the Policy Economy Research Institute at the University of Massachusetts suggest that with each $1 million invested in infrastructure more than 15 jobs are created.

Alfond added, “People’s jobs are on the line, our roads are crumbling. Our economy cannot wait any longer for this economic shot in the arm. The Governor should do what he said he was going to do and follow the will of the people by releasing the bonds.”

Maine is one of three states in the country to lose jobs over the last twelve months. According to a recent national business rating, Governor LePage ranks third from the bottom on his job growth record.

Bonds approved by the Legislature this year will then go on to face statewide voter approval.

###