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Maine Lawmakers OK Budget Fix and Rainy Day Fund Bill

| March 21, 2014

Maine State House, Augusta

AUGUSTA, Maine (AP) – Maine lawmakers are sending a bill to fix a shortfall in the state budget and replenish the rainy day fund to Republican Gov. Paul LePage.

The House voted 121-6 in favor of the bill addressing a $40 million shortfall this fiscal year and part of next year’s budget gap. The Senate followed with a 33-1 vote.

They also approved Republican LePage’s proposal to put $21 million back into the rainy day fund, which was tapped to restore revenue sharing to cities and towns.

LePage says drawing from the rainy day fund will hurt the state’s credit rating, so he’s withholding voter-approved bonds until there’s at least $60 million back in the fund.

The Appropriations Committee continues to work on the remainder of the 2015 budget.

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