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Maine To Receive $450 One-Time Payments Under American Rescue Plan Act

Stimulus Payments [Photo: U.S. Census Bureau]
Stimulus Payments [Photo: U.S. Census Bureau]

Eligible residents of Maine will be receiving $450 worth of one-time payments under the American Rescue Plan Act. To date, no exact schedule has been provided but the payments are expected to be received in a week or so.

Maine Winter Relief Program

Maine Winter Relief Program

Maine Governor Janet Mills has signed a $474 million spending package into law. The package included different measures to help residents in dealing with energy prices during winter. The American Rescue Plan Act allotted $157 million to Maine for the funding of this package. $283 million in revenues recently forecasted by the Revenue Forecasting Committee was used to fund this package. As a result, every eligible resident of Maine will receive one-time payments of $450 each. In an average household, it is estimated that $900 will be received.

According to Russo, this initiative is made possible by Mills as the Maine Public Utilities Commission has announced that customers of Central Maine Power Company will experience an increase in electric rates by 49% this January. Mills stated that this initiative will help the residents with their finances amidst the high prices of energy and make sure they stay warm during the winter season.

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Who is qualified for these payments?

According to Russo, to qualify for these one-time payments, an applicant must be a resident of Maine who has filed a 2021 tax return and has not been claimed as a dependent. Single filers must earn no more than $100,000 a year, while joint filers must earn no more than $200,000. Heads of household, on the other hand, must earn no more than $150,000 a year. There has been no announcement on the exact date when these payments will be received but they are expected to be received in mid-January.

READ ALSO: IRS Warns Early Filers To Wait Before Submitting Tax Return In 2023, Here’s Why

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