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Panel: State Revenues Expected to Remain Flat
02/21/2014 03:08 PM ET  

The state's Revenue Forecasting Committee is pretty much sticking with projections they made late last year.

Lawmakers hoping the state's Revenue Forecasting Committee would help them with the state's budget shortfall got disappointing news today. The panel is pretty much staying with the projections they made late last year.

"It's a slight upward re-projection for the biennium of a little over $2 million," says Mike Allen of Maine Revenue Services, who chairs the panel. "So, it's pretty much sticking with our forecast from last December."

State revenues over the two-year budget cycle are projected to be more than $6 billion, so the committee's adjustment is less than .5 percent.

The panel was reluctant to make any further changes to projections, with both corporate income tax, and individual income tax, filings due in the next few months.

This story was reported and written by Mal Leary.


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