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Maine's governor proposes spending $1B rainy day fund on checks and housing, sparking concerns over fiscal responsibility and long-term stability.
Governor Janet Mills proposes using Maine’s $1 billion rainy day fund for $300 relief checks and $70 million in housing subsidies, sparking concern over fiscal responsibility.
Despite strong revenue growth and no current economic emergency, critics warn the move undermines the fund’s purpose as a buffer during crises.
Past use during the 1991 recession led to severe cuts and a state shutdown, eroding public trust.
Mills has avoided bond measures, relying on fund transfers for infrastructure, leaving schools and wastewater projects underfunded.
Experts caution that spending the reserve without a genuine emergency sets a dangerous precedent and risks long-term financial stability.
El gobernador de Maine propone gastar $ 1 mil millones en cheques y vivienda, lo que genera preocupaciones sobre la responsabilidad fiscal y la estabilidad a largo plazo.