Panel to draft bill addressing revenue shortfall
Lawmakers are looking to develop an emergency bill to tackle a $5 million revenue shortfall for the current fiscal year, which ends June 30.
Rep. Patrick Flood, R-Winthrop, co-chair of the appropriations committee, tomorrow plans to introduce a joint order directing the committee to develop the emergency bill this week, according to Capitol News Service. Last month, revenue forecasters cut projections for the next two years by $14 million due to sluggish income tax revenue and the rising price of oil. January revenue figures were nearly $40 million under projections, while February figures haven’t been released. Rep. Peggy Rotundo, D-Lewiston, said she believed spending cuts from now until June could solve the revenue problem.
Lawmakers said they wanted to get the revenue shortfall taken care of in order to move ahead with addressing the remaining $90 million Department of Health and Human Services shortfall in the 2013 budget. The state has already approved a supplemental budget bill that cuts $120 million from DHHS to address this budget year’s shortfall.
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