Md. state comptroller proposes state-level stimulus plan
UPDATED 11:54 AM PT – Friday, January 1, 2021
A Maryland state official has been pushing for a state-level stimulus package aimed at helping state residents and businesses. State comptroller Peter Franchot (D-Md.) detailed a plan this week which would take around $1 billion from the state’s rainy day fund, reserve funds or a line of credit.
Franchot suggested using around $750 million of that to provide funding to families making less than $50 thousand a year, stating he’s willing to make it happen as soon as possible. Another $250 million in grants would go toward small businesses and restaurants.
We have thousands of our fellow Marylanders out of work, struggling to pay their rent, and to put food on the table. We have thousands of small businesses — the backbone of our state’s economy — that have already closed down for good, and thousands more barely hanging on. (2/3)
— Comptroller Peter Franchot (@peterfranchot) December 28, 2020
“We can put a thousand or more in their pockets immediately if the governor and the legislative leadership simply give me an oral ‘it’s the right thing to do, go ahead and do it,’” Franchot said.
Gov. Larry Hogan (R-Md.) has indicated his plans to introduce a state-level stimulus package when the General Assembly begins meeting this year. He has already authorized $600 million toward relief plans across the state.