A few weeks ago, the governor’s State of the State address announced that there would be a surplus based on the revenue forecast and that Mainers would receive a $500 check.
Unexpected and a bonus. But wait, there’s more.
After yesterday (JanSt) Revenue Forecasting Committee Meeting Expected to Revise $500.
Do not be nervous.
The check isn’t for $500, it’s for $750.
We’re in the money.
The surplus was originally forecast at $411 million and that was updated yesterday increasing the amount of the surplus by over $205 million.
This will result in $750 for an estimated 800,000 eligible Maine taxpayers beginning as early as July if approved by the Legislature.
With what happened to the prices at the pump and the prices at the grocery and hardware stores, well, you get it. Who couldn’t use more money?
It’s our money and 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 surplus to Maine taxpayers via direct checks,
- provide important tax breaks for working families and seniors in Maine,
- Providing two years of free community college for pandemic-affected students to strengthen Maine’s workforce,
- transform the state’s student loan repayment program into a nation’s leading debt-repayment vehicle; and among others
- provide additional support for hospitals and nursing homes in Maine.
Don’t spend it all in one place, and remember it won’t be here until July.