Maine Governor Janet Mills has tweaked the overall inflation relief check amount by $250 to $750 for 800,000 residents of the state. An estimate by the state commission has put an additional bump of $411.6M in state revenue during the budget period over two-year.
This news comes after a meeting of Maine’s revenue commission. The Governor said that 50% of the rise in revenue would be used to increase the overall amount of the check that will start this July. Before that, the proposed supplemental budget should be passed by the Legislature.
Forecasting Committee Wary Of Increase In Size Of Stimulus Check
Even as the Governor comes up with her plans to utilize the surplus revenues, the new predictions were met with wariness by the forecasting committee.
They contend that the potential uncertainty in the economy such as global events and inflation affect the prices of regular goods. The effects of the stimulus check wear out under these pressures. This brings the chances of the projections turning out to be true.
Revenue Services economist David Gunter of Maine has pointed specifically towards rising prices of gas as one factor that could bring down tax proceeds in the foreseeable future.
These stimulus checks were in focus on the budget platform of the Republicans last year, though the GOP has been advocating for tax cuts than giving out stimulus checks. This is more so after Paul LePage, the former Governor picked up the issue during campaigning. He is likely to be Mills’ adversary in the gubernatorial election this fall.
The public hearing to decide the proposal of the Governor’s $850M supplemental budget is on this week. Mills is likely to tweak the package that includes the enhanced relief stimulus check this month. That would take away an extra $205.8, taking the total proposed budget to $616.8M. early indications are hopeful and Mainers should be received the stimulus checks as proposed by the Governor.
