Senate Democrats release statement on revenue forecasting report

AUGUSTA — The Maine Revenue Forecasting Committee presented its biannual report on revenue projections at the State House on Wednesday. The report projects an additional $66 million in revenue for state fiscal year 2019 and $20 million more in revenue over the next biennium.

Senate President Troy Jackson, D-Allagash and Sen. Cathy Breen, D-Falmouth, Chair of the Legislature’s Committee on Appropriations and Financial Affairs, released the following statements:

President Jackson:

“Our priorities remain lowering property taxes, making health care more affordable and more accessible, and investing in quality, good-paying jobs. In the final months of the legislative session, I look forward to working with my colleagues – Republican, Democrat and Independent – to pass a budget that does just that. With a strong and steady economy, there is no reason we shouldn’t be able to do that.”

Sen. Breen:

“It’s clear that our economy is stable and healthy, but lawmakers cannot take that for granted. As chair of the Legislature’s budget-writing committee, my job is to ensure lawmakers craft a smart and responsible budget that makes targeted investments in the health and well-being of Maine people and small businesses. This information will be instrumental as we continue to make critical decisions on spending for the next two years.”

The Maine Revenue Forecasting Committee is an independent, nonpartisan commission outlined in statute and charged with developing a report that presents the analyses, findings and recommendations for adjustments to General Fund revenue and Highway Fund revenue for the current and ensuing fiscal biennia.

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