10 months ago
AUGUSTA (AP) -- Maine state government's revenue shortfall keeps getting bigger. Revenues continue to fall below projections, with the state now looking at a possible $300 million to $400 million shortfall for the current two-year budget. October revenues came in nearly $27 million below projections. Income tax revenues alone came in $19 million short. Gov. John Baldacci is preparing an executive order to curtail state spending. Spokesman David Farmer says legislators need to be prepared to cut spending when they revise the budget. He says the governor doesn't support tax increases to make up for the shortfall.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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