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February 25, 2008

Baldacci expects $200 million budget gap

Governor John Baldacci believes the state's budget gap will grow to more than $200 million after the Maine Revenue Forecasting Committee meets today.

The six-member committee is expected to revise an earlier budget shortfall prediction of $95 million, according to the Associated Press. That means difficult decisions in the Legislature, particularly among the Appropriations Committee, which is charged with reviewing Baldacci's proposal to balance the state's two-year $6.3 billion General Fund budget.

Baldacci in the past has said generating revenue through higher taxes isn't an option, though the AP reported that the governor may adopt a new strategy to deal with a significantly higher budget gap.

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