Comptroller Franchot Recommends $1 Billion in Additional Stimulus Checks for Maryland Families and Businesses
Peter Franchot, Comptroller of Maryland, has recently advocated for $1 billion in funding to be distributed to some Maryland families and businesses in need.
Franchot’s recommendation is to send $1,000-$2,000 checks to single parents and guardians who make $50,000 or less. Couples who make $75,000 or less and have dependent children would also be provided with a check. It is estimated that $750 million will be put towards these Maryland families.
Additionally, Franchot recommends providing $250 million in grants to small businesses and restaurants.
The funding would likely come from a combination of Maryland’s Rainy Day Fund and remaining assets from the CARES Act. Franchot explained that if approved, the state would be able to disperse the funds very quickly.
This plan needs to be authorized by Governor Hogan in order to happen– as of right now he has not commented publicly about the comptroller’s suggested plan.
Featured photo courtesy of Franchot’s Instagram.
By: Michelle Katz @pike.and.rozay