Under the Dome: Inside the Maine State House 6.30.12

State May End the Fiscal Year with a Small Surplus

Maine's current fiscal year, which ends on June 30, 2012, may end with a small surplus. The Appropriations and Financial Affairs Committee heard from the Maine Revenue Services last week that revenues are currently above projections made in April, meaning the State could see a modest surplus. It appears to be difficult to discern any trend in these increased revenues, as some of the increase is due to unexpected events, like one very large estate tax payment in May.

Should the State end the year in the black, this does not mean there will be additional funds for the Government to spend. Maine statute already contains a "cascade," which determines how excess revenues will be distributed at the end of the fiscal year. Only amounts in excess of funds already earmarked in the "cascade" are truly funds that are not already spoken for, and a surplus above and beyond the "cascade" is unlikely.

Early Polling Released in U.S. Senate Race

A poll released last week asked Maine voters who they would vote for today in the race to fill the U.S. Senate seat currently held by Senator Olympia Snowe. The poll shows former Governor Angus King (unenrolled) in the lead with 50 percent of the vote, followed by Secretary of State Charlie Summers (Republican) with 23 percent of the vote and State Senator Cynthia Dill (Democrat) with 9 percent of the vote. Seventeen percent of those surveyed were undecided.

Candidates Dropping out of Legislative Races

Following the primary elections earlier this month, a number of legislative candidates have announced that they are withdrawing their names from the general election ballot. Provided a candidate withdraws on or before 5 p.m. on July 9th (the second Monday in July), another candidate can be selected by a local party committee to be placed on the general election ballot. It is...