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Maine projects revenue increase for coming fiscal years

Maine State House
Maine State House
Published: Nov. 23, 2021 at 6:07 PM EST
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AUGUSTA, Maine (AP) — Revenue projectors for the state of Maine say the general fund looks to have about 10% more money in it in coming fiscal years than previously expected.

State officials said Tuesday the nonpartisan Revenue Forecasting Committee is expected to upgrade the general fund forecast by more than $800 million for fiscal years 2022 and 2023.

The office of Gov. Janet Mills, a Democrat, said factors such as federal pandemic relief and rising prices are expected to drive up receipts to the state.

Mills says conservative budgeting has also helped grow the general fund.

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