State ends fiscal year in the black
With the Legislature in summer adjournment, Gov. Paul LePage could bask in the sunny news of the state ending its fiscal year with a revenue surplus, but a recent poll places storm clouds on the horizon of his 2014 reelection bid. The Maine Republican Party, meanwhile, picked a veteran former lawmaker with a reputation for being a unifying leader as its new chairman.
State ends year in black
Maine ended its 2013 fiscal year on June 30 with a revenue surplus of $46 million. Unspent balance in various state government accounts could add another $10 million to $12 million to that surplus.
Finance Commissioner Sawin Millett reported personal income tax revenues ended the year nearly $28 million above projections, but noted the corporate income tax revenues were down about $60 million.
Millett said the state collected slightly more than $3.1 billion for the fiscal year that ended June 30.
By statute, the first $5.5 million of the surplus is allocated for reserve and contingency accounts. Approximately $4 million, or 7.7% of the total surplus, will be set aside for tax relief for Maine residents. Of the remaining surplus, 80% will go to the state's rainy day fund.
Bennett elected Republican chairman
Rick Bennett, former president of the Maine Senate and CEO of the corporate governance ratings firm GMI Ratings, was elected new chairman of the Maine Republican Party on July 20 by the 77-member state party committee. Former state Rep. Susan Morissette will serve as vice chairwoman. The election of Bennett and Morissette to the top party posts follows the abrupt resignation of former Republican Party Chairman Rich Cebra and Vice Chairwoman Beth O'Connor in early July.
Poll: Michaud ahead
A poll conducted between July 11 and July 16 by Greenberg Quinlan Rosner on behalf of the National Education Association shows U.S. Rep. Mike Michaud with a nine-point lead over LePage in a three-way race for governor. The poll of 400 likely voters puts Michaud decisively ahead with 40%, followed by 31% for LePage and 26% for Independent Eliot Cutler. If Cutler were to drop out, the poll puts Michaud in a landslide over LePage by a 61-34 margin.
The poll carries a plus-minus margin of error of just under 5%.
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