AUGUSTA (AP) — A Democratic state lawmaker says a surplus of nearly $73 million should be used to help cover Maine’s bills before it’s put in the state’s rainy day fund.
The Sun Journal reports Rep. Peggy Rotundo joined other Democrats Tuesday in countering legislation put forth by Republican Gov. Paul LePage that would put the surplus in the state’s budget stabilization fund.
She says the Legislature shouldn’t be handcuffed from using the money.
But Republican state Sen. Jim Hamper says putting money in the fund would help the state if there is another economic downturn. LePage says the state must have a larger sum in the fund to protect the borrowing interest rate from climbing too high.
The move would increase the state’s rainy day fund to at least $183 million.
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