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Sponsored by: OTELCO
Gov. Janet Mills last week proposed a $111 million bond package she says is necessary in order for Maine's economy to recover and grow. Among components of the "Back to Work" program are investments in broadband access, workforce development, innovation in Maine's "heritage" industries, and expanded child care services.
While the bond package has received support from business advocates such as the Maine State Chamber of Commerce, some say Mills' plan doesn't go far enough. For example, changes in tax laws are needed to create a level playing field for small businesses and to help low-income Mainers, according to the Maine Center for Economic Policy and the Maine People's Alliance.
Sponsored by: OTELCO
Gov. Janet Mills last week proposed a $111 million bond package she says is necessary in order for Maine's economy to recover and grow. Among components of the "Back to Work" program are investments in broadband access, workforce development, innovation in Maine's "heritage" industries, and expanded child care services.
While the bond package has received support from business advocates such as the Maine State Chamber of Commerce, some say Mills' plan doesn't go far enough. For example, changes in tax laws are needed to create a level playing field for small businesses and to help low-income Mainers, according to the Maine Center for Economic Policy and the Maine People's Alliance.
Due to historically low interest rates (I'm assuming that the borrowing comes at well under 2%), there is a distinct possibility that future inflation will actually create a negative effective interest rate on the payback of these bonds. Workforce development, increasing the availability of childcare, and improved broadband in rural areas will allow workers to add to the state's GDP so this bond could win on both ends.
Fact check - Gov Mills has ADDED to the Rainy Day Fund, which now stands at $320 million; that while providing targeted relief, supporting small business, and ensuring transparent health reporting in the face of a global pandemic. Bonding when interest rates are at historic lows to help the economy recover is both prudent and necessary.
I agree with a lot of the items in the bond proposal, but I would like to see those in the regular budget with some of the items in the regular budget being cut back. This is not the time to be incurring more debt when our businesses are still trying desperately to recover from the pandemic.
What happened to the Lepage Rainy Day fund?
Oh I forgot, the democrats are in control.
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Craig Wetmore
Hi ho hi ho it's into debt we go! Spending money we don't have will mean higher taxes. Back to work programs? Wouldn't it be better if she just stopped the restrictions on small businesses and allow them to go back to normal? Texas and Mississippi have lifted all of their restrictions, so why not Maine?