The Secretary of the Department of Finance, Francisco Parés Alicea, today, Monday, assured that the new economic stimulus package approved by the federal government that has $ 600 for the majority of US citizens will take less than a month to distribute.
At a press conference, the official explained that in about three to four weeks, about 90 percent of eligible Puerto Ricans will have the money.
“It should be a much shorter process than what we go through with the stages of the $ 1,200 programassured the head.
“Although it is a similar program, the amount per person is reduced. The amount per dependent increases slightly. […]With those changes, we created a distribution plan and concept based on those changes and submitted it to the IRS (Internal Revenue Service) for consideration, ”he added.
Last night, the President of the United States, Donald Trump, signed the economic stimulus bill passed in the federal congress. The legislation would award $ 600 to most of the citizens and businesses affected by the shutdown as a result of the COVID-19 pandemic.
Likewise, the Treasury announced that it would today submit the draft Distribution Plan required by the Federal Treasury Department.
On the other hand, when asked when Puerto Ricans could expect the money, Parés Alicea said he cannot commit to an exact date as the IRS is still evaluating the plan.
The IRS is facing challenges inherent in the holiday season. […] Likewise, there is a transition at the federal level that we do not know how could affect the resources that have the decision-making power to issue the corresponding permissions, ”he explained.
That said, Parés Alicea promised that the phases of this program will be implemented much faster compared to the initial $ 1,200 payment in the middle of this year.
“I wouldn’t set a date because if the IRS were to approve it in mid-January, everything will be settled by mid-February and a large portion of the payments will be made in the month of January,” he said. “Everything will depend on when the IRS and the federal treasury give the approval,” he added.