State revenues come in $27 million above estimates
After years of slow growth, state revenues in December came in nearly $27 million above estimates, MPBN reported.
Finance Commissioner Richard Rosen told MPBN the additional revenue — coming from sources such as increased individual income tax, sales tax and corporate tax collections — indicates the state economy is growing.
The growth meets predictions made at the start of 2015, when increasing momentum in the national economy was expected to be reflected in Maine as well. Energy prices are a big factor, with oil prices currently at their lowest levels in years, spurring increased consumer spending on other items, according to the Governor's Energy Office.
Rosen said the trend is continuing, based on January’s preliminary revenue numbers.
Read more
Five Maine economists give us their 2015 outlook
Price for heating oil in Maine drops to lowest point since 2004
Most Recent
Most Recent
Comments