The Secretary of the Department of Finance, Francisco Parés AliceaHe said today, Monday, that the new economic stimulus package approved by the federal government, and which has $ 600 for most Americans, will take less than a month to distribute.
At a press conference, the official detailed that in about three to four weeks, about 90 percent of eligible Puerto Ricans will have the money.
“It must be a much shorter process than we experienced with the $ 1,200 program phases“, Assured the headline.
“Although it is a similar program, the amount per person is reduced. The amount per dependent increases slightly […], Already with these changes we made a distribution plan and a draft based on these changes and submitted it for consideration by the IRS (Internal Revenue Service), ”he added.
Last night, U.S. President Donald Trump signed the economic stimulus bill approved by the federal Congress. The legislation would grant $ 1,600 to most already business citizens affected by the closure caused by the COVID-19 pandemic.
The Treasury also announced that today it would be submitting the draft Distribution Plan required by the Federal Treasury Department.
On the other hand, when asked about when Puerto Ricans could expect the money, Parés Alicea expressed that he cannot commit to an exact date, given that the IRS is still evaluating the plan. .
“The IRS is facing challenges inherent in the Christmas date. […] Similarly, there is a transition at the federal level that we do not know how this could impact the resources that have decision-making power to give the appropriate authorizations, ”he explained.
That said, Parés Alicea pledged that the phases of this program will be implemented much faster compared to the first payment of $ 1,200 in the middle of this year.
“I would not want to set a date because if the IRS gave an approval in mid-January, because already in mid-February everything was settled and much of the payments would be made during the month of January,” he said. “It will all depend on when the IRS and the federal Treasury give their approval,” he added.