State Budgets: Maine Awaits Proposals to Address Looming Shortfall December 29, 2008 Joseph Bishop-Henchman Joseph Bishop-Henchman To balance the current $6.26 billion 2008-09 biennial budget, Gov. John Baldacci (D) has proposed $140 million in budget cuts including $27 million in education, correctional officers, and drawing on $45 million in reserves. On January 9, Baldacci will discuss ways of addressing an estimated $838 million shortfall in the $6.82 billion 2010-11 biennial budget. He has said he wants to avoid broad based tax increases but businesses nevertheless worry that they will be targeted for tax and fee increases. A recent editorial notes that Maine has anemic population growth and is about to be surpassed by New Hampshire in number of residents. In November, Maine voters rejected a beverage tax to fund health care expansion. More on Maine here. Stay informed on the tax policies impacting you. Subscribe to get insights from our trusted experts delivered straight to your inbox. Subscribe Share Tweet Share Email Topics Maine Tags State Tax and Spending Policy