It hopes to 98% of stimulus payments can be processed within days.
Annapolis, Md (KM) The processing has begun. Maryland Comptroller Peter Franchot announced on Tuesday during a news conference that his office has begun work on processing the stimulus payments for some residents under the RELIEF Act which was signed into law on Monday.
“This morning {Tues}, we had started by pushing the button on 266,985 electronic payments,” says Franchot. “Those checks, those electronic payments have a value of $113.6-million. And many will see their payments posted in their bank accounts at the end of this week. I’m talking Friday. That’s almost instantaneous money going into their accounts,.” he says.
Franchot also says 98% of the RELIEF Act stimulus payments will be processed by February 19th.
Under the legislation passed last week by the General Assembly and signed into law on Monday by the Governor, 422,531 recipients are eligible for these one-time payments of $300 for individuals and $500 for families who claimed the Earned Income Tax Credit in the tax year 2019.
The measure also provides 32,000 Marylanders that are awaiting unemployment insurance adjudication $1,000 grants once the Comptroller’s Office receives a list of recipients from the Maryland Department of Labor.
The RELIEF Act also allocates money for small businesses and non-profits.
Anyone who has questions about this legislation, or believe they’re eligible for these payments can call 1-888-345-0787, or go on line to [email protected].
But Franchot had some criticism of the RELIEF Act, referring to it as “so-called relief. He said it doesn’t go far enough in helping Marylanders suffering financially due to the COVID-19 pandemic. “No one can seriously think that a few hundred dollars, a $300 check, is going to make a dent in the mountain of debt that’s been accumulated over the past year by many of these wonderful Maryland families and citizens,” he said
He also said it doesn’t do enough for Marylanders in need. “We’re the richest state in the richest country in the history of the world. And we have the means in Maryland—and the obligation, I believe –to do more for our fellow Marylanders and small businesses that are struggling to keep their heads above water,” he said.
Franchot estimated there are 150,000 Maryland families which are suffering financially, the are not receiving anything from the RELIEF Act.
Earlier this month, Franchot proposed a $2,000 stimulus payment to help families get through this financial crisis until the US Congress passes another coronavirus relief bill.
By Kevin McManus