Task Force Seeks Savings from State’s Tax Cuts

AUGUSTA, Maine (AP) — A group of Maine lawmakers, state officials and economists tasked with finding $40 million in savings in the state budget is gearing up for its first meeting in Augusta.

The task force which will meet on Monday was created to review the state's tax breaks, exemptions and credits to see where savings can be made. It's scheduled to meet six times this fall before submitting a report to the Legislature in December.

Democratic leaders say the state will have to further cut municipal revenue sharing if they can't find $40 million in savings. The $6.3 billion state budget approved in June reduced revenue sharing to Maine's cities and towns by $75 million, which some say will cause property taxes to rise.