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Maryland has the money to provide residents with a $2K stimulus check, Said Peter Franchot


VIDEO : foxbaltimore

this week Peter Franchot has called for the state to step up COVID-19 relief and offer $2,000 stimulus checks to certain residents.


Maryland Gov. Larry Hogan (R) and other state officials are being pressured by state comptroller Peter Franchot to approve a $1 billion stimulus package that will take money from the state's Rainy Day Fund, reserve funds or line of credit to give it to people

Franchot reiterated that the Maryland Rainy Day Fund was "designed just like the one we are in right now for a crisis by its name," and encourages the state to allocate $750 million to its residents and $250 million more to small companies and restaurants.


Under the plan, Maryland residents who make $50,000 or less in a year will qualify for the $2,000 direct payment. Couples who collectively make less than $100,000 will also be given a check.


Earlier this week, Franchot shared a petition to the governor requesting use of the Rainy Day Fund, saying Hogan “should do everything in his power to prevent more of our small businesses from closing and more residents from losing their jobs due to an unavoidable virus.”

when the General Assembly meets, Hogan has promised to launch a COVID-19 relief plan in 2021, but has not released specifics.


Franchot acknowledged that there are reasons about the use of the Rainy Day Fund, including that the state needs the fund to keep its bond rating high and that, given the economic pressure of the pandemic, Maryland could use it to cover for poor budgets anticipated next year.


“There obviously are going to be uncertainties down the road and volatility in the economic recovery,” Franchot said, according to WUSA9. “All I'm suggesting is we have a higher priority right now.”


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2020 ALL NEW DIGITAL PRIVACY POLICY

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2020 ALL NEW DIGITAL PRIVACY POLICY