The Secretary of the Treasury, Francisco Parés Alicea, explained that the process of implementing the distribution plan for the new $ 1,400 check that the federal government intends to provide for American citizens will take longer.
Parés Alicea explained that as soon as the federal House of Representatives approves the economic relief package proposed by President Joe Biden, the local agency will submit the Distribution Plan for the approval of the IRS and the Federal Treasury.
“However, we recognize that the implementation will take more time, since the changes that the project contains so far, will require other programming work other than those carried out for the disbursement of $ 1,200 and $ 600. However, we have already started the work planning and preparation for the distribution of this aid, “the official said in written statements.
Likewise, Parés Alicea said that he hopes that the incentive will reach the people as soon as possible. “It will be a billionaire injection in a short period of time that will cause a substantial economic movement on the island,” he said.
Individuals earning less than $ 75,000 a year, heads of household earning up to $ 112,500, and married couples earning less than $ 150,000 will receive the full amount.
Yesterday, the federal Senate approved the $ 1.9 trillion rescue package to lift the country out of the pandemic and economic stagnation. The package includes direct payments of $ 1,400 to almost all Americans, extended benefits for the unemployed and lots of money allocated to vaccines and tests against COVID-19, states and cities, schools, weakened industries, plus tax breaks. to help lower-income people, families with children, and health insurance consumers.
The package will now go to the House of Representatives for approval and then for the president’s signature.