Last week the Maine’s Revenue Forecasting Commission met and has indicated that despite the recession, Maine’s economy is still growing.
Last month state revenues were above estimates by $81 million, and for the budget year to date, revenues are above estimates by $227 million. The increase is being driven by better-than-expected sales and personal income tax collections.
Maine’s economy has done much better than anticipated, a lot of that has to do with the CARES money. Money from the CARES Act paid for the Paycheck Protection Program, expanded unemployment benefits and federal funds for health care providers.
Megan Diver
Megan has worked in Maine politics for nearly ten years and all of her professional career, having served in many roles for staff, elected officials (including former Secretary of State Charlie Summers), in-house with the Maine Association of REALTORS®, legislative specialist at Pierce Atwood LLP providing lobbying services and support to Pierce Atwood’s government relations clients and most recently senior government relations specialist at the Maine State Chamber of Commerce. Megan currently is the Vice President at the Maine Energy Marketers Association.
