Maine Gov. Janet Mills has adjusted overall inflation relief check amounts of $ 250 to $ 750 for 800,000 residents of the state. An estimate from the state commission has put an extra bump of $ 411.6M in state revenue over the two-year budget period.
This news comes after a meeting of the Maine Revenue Commission. The governor said 50% of the increase in revenue would be used to increase the total amount of the check starting in July. Before then, the proposed supplementary budget should be adopted by the Legislative Assembly.
Forecast committee on guard against increase in size of stimulus check
Although the governor comes up with his plans to exploit the profits incomethe new predictions were met with caution by the forecasting committee.
They argue that the potential uncertainty in the economy, such as global events and inflation, is affecting the prices of commodities. The effects of the stimulus check are worn under these pressures. This brings the chances that the projections turn out to be true.
Revenue Services economist David Gunter of Maine has specifically pointed to rising gas prices as a factor that could bring tax revenues down in the foreseeable future.
These stimulus checks were in focus on the Republican budget platform last year, though the GOP has advocated for tax cuts rather than handing out stimulus checks. This is more after Paul LePage, the former governor took up the issue during the campaign. He’s likely to be Mills’ opponent in the fall gubernatorial election.
The public hearing to decide on the governor’s supplementary budget of $ 850 million is this week. Mills is likely to adjust the package that includes the enhanced relief stimulus check this month. That would remove an additional $ 205.8M, bringing the total proposed budget to $ 616.8M. early indications are hopeful and Mainers should receive stimulus check as suggested by the governor.