$500 Check Promised by Governor Mills Has Been Revised-Upward
A couple of weeks ago in The Governor’s State of the State address, it was announced that because of the revenue forecast there would be a surplus and that Mainers would receive a check in the amount of $500.
Unexpected, and a bonus. But wait there’s more.
After yesterday’s (March 1st) Revenue Forecasting Committee’s meeting that $500 is expected to be revised.
Don't be nervous.
The check won’t be for $500, but for $750.
We’re in the money.
The surplus originally was forecast at $411 million, and that was updated yesterday adding over $205 million more to the amount of the surplus.
That will lead to $750 for an estimated 800,000 eligible Maine taxpayers, beginning as soon as July, if approved by the Legislature.
With what has been happening to prices at the gas pumps, and prices in the grocery store and at the home improvement stores, well, you get it. Who couldn't use more money?
It’s our money, and it is a welcome addition to the bank account.
Maine dot Gov released the following yesterday afternoon
If approved by the Legislature, Governor Mills’ supplemental budget proposal would:
- return half of the state’s surplus to Maine taxpayers via direct checks,
- deliver crucial tax relief to working Maine families and seniors,
- provide two years of free community college to pandemic-impacted students to strengthen Maine’s workforce,
- overhaul the State’s student loan repayment program into a nation-leading debt retirement tool, and, among other things,
- provide additional assistance for Maine hospitals and nursing homes.
Don’t spend it all in one place, And remember it won’t be here until July.