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Maine on Track to End Budget Year with Surplus

AUGUSTA, Maine - With only two months left in the budget year, state revenues are running nearly $18 million above projections.  In April alone, state revenues beat projections by $7 million.

State Finance Commissioner Richard Rosen says sales taxes are running better than 9 percent above a year ago, and income taxes continue to exceed projections.

"On the economic side, you have every indication here that Maine's economy continues the solid, steady improvement - the solid, steady growth," Rosen says.

Rosen says sales taxes from car and truck purchases continue to grow faster than projected, up nearly 12 percent over the first quarter of last year. He says he has no doubt that the state will end the year with a solid surplus.

 

Journalist Mal Leary spearheads Maine Public's news coverage of politics and government and is based at the State House.