AUGUSTA – Maine’s Department of Administrative and Financial Services released its year-end update and announced that Maine’s General Fund revenue collections exceeded estimates by $175.8 million dollars at the close of the 2018 fiscal year.
Speaker of the House Sara Gideon released the following statement:
“I’m enormously pleased that Maine continues to show strong revenue growth as we continue our slow recovery from the recession. Because our revenues continue to exceed projections, we can finally focus on long term solutions that strengthen middle class families, while creating an environment that supports good paying jobs and a strong economy. The state has achieved these results in spite of a challenging and unpredictable environment created by this Administration. They are due to the hard work of the Legislature, who for the past three sessions have crafted budgets that made significant investments in education, expanded property tax relief for middle class Mainers, invested in those that care for our seniors and Mainers with disabilities, all while rejecting devastating cuts to essential government services.”
House Chair of the Appropriations and Financial Affairs Committee Rep. Drew Gattine released the following statement:
“This sharp increase in revenue reflects strong economic growth, but it also presents real opportunity to address the vital needs of Maine families. I’m thinking about the conversations that are happening around kitchen tables all across Maine. People asking themselves how they are going to pay their mortgage, if they can see a doctor, if there is a safe, accessible childcare for their kids and will they be able to pay for college. And, sadly, in too many places the answers are not hopeful or positive. In March we received a revenue forecast that projected $129 million in new revenue. In just four months, we have seen overall revenues exceed that by nearly $100 million. That’s great news because it is now crystal clear that we have the resources to help Maine people live better lives. It also means there is no excuse for delaying expansion of Medicaid, which will inject another $500 million into Maine’s economy and provide life-saving health care to over 70,000 who desperately need it.”