With federal stimulus payments on hold at present, several states continue to devise ways to help sections of residents with various forms of relief. Numerous states have sent stimulus checks to residents, with California being the first off the mark.
The Governor of Maine, Janet Mills, has targeted people affected by the severe inflation and plans to allot a stimulus check worth $750.
The Governor plans to allot the funds for the inflation stimulus check-in linked to the information from the state commissioner’s office that Maine had reported a rise in revenues.
Going For A Stimulus Check To Counter Inflation
The decision to increase the amount for the inflation stimulus check for residents of Maine was decided at a meeting by Governor Mills with the revenue department of the state.
The revenue forecasting panel estimated that around $411.6M of additional revenue would be generated through June of next year, the panel had earlier projected the revenue for this period at $822M.
Governor Mills decided that 50% of the projected revenue increase would be utilized to boost the amount of the stimulus check to $750.
This payment will benefit around 800,000 residents of Maine. If the supplementary budget proposed by Governor Mills is approved by the legislature, the checks could be dispatched starting July 2022.
Other than increasing the amount of the check, Governor Mills also recommended certain relief in taxes for seniors and working families in Maine.
There is also a proposal to include free community college for two years for students affected by the pandemic. There are also plans to overhaul the repayment program for students’ loans in Maine. There are also plans for supplementary assistance for nursing homes and hospitals in Maine.
Even though Governor Mills is going ahead with the proposal, economists have cautioned that projected revenues in the latter part are fraught with uncertainties and shouldn’t be relied upon totally.
