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Lawmakers tackling the state budget are planning to address the recent revision of the state's bond outlook from stable to negative.
Earlier this month, Standard & Poor's Rating Service revised the state's bond outlook to negative, following concerns over the state's cash flow and cash reserves, according to Capitol News Service. Finance Commissioner Ryan Low told the news service that S&P was concerned that the state's buget was not yet finalized, and that the state used money from the rainy day fund, or the Budget Stabilization Fund, last year. The House and the Senate are scheduled to take up state budget revisions, which include $7.1 million for the rainy day fund.
Members of the appropriations committee said they were concerned about S&P's rating, since it could lead to a downgrading of the state's credit rating. But Low and others said the state's actions toward balancing the budget without raising taxes would keep the rating from being lowered.
Go to the article from Capitol News Service >>
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Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Whether you’re a developer, financer, architect, or industry enthusiast, Groundbreaking Maine is crafted to be your go-to source for valuable insights in Maine’s real estate and construction community.
Coming June 2025
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