Saturday, May 30, 2020

Puerto Rico Resident Commissioner: Anyone with a Social Security Will Get a Check

By on March 25, 2020

Small Business that Keep their Employees Could Have their Loans Forgiven

SAN JUAN — Resident Commissioner Jenniffer González Colón said Wednesday that “between April and May,” as part of the anticipated federal stimulus bill amid the coronavirus epidemic, individuals will receive $1,200 and $2,400 when filing jointly, as well as $500 for each child.

While the legislative text of the third economic package in response to COVID-19 is being finalized, “I tell you in advance that we managed to include $3 billion in the bill to assist the governments of Puerto Rico, Washington, D.C. and other territories to face this pandemic,” González said Wednesday.

“If you have valid Social Security, you will receive the check from the federal government as part of the aid for the coronavirus situation,” González Colón said in a video she posted on her Facebook page.

“You do not have to have filed returns; you do not have to have received income, as long as it is in the following interval…: every individual who has Social Security, and this includes pensioners, retired people, everyone who has a valid Social Security and is legally living in Puerto Rico” will receive the check.

It is anticipated those who make less than $75,000 a year will receive direct payments of $1,200 per individual ($2,400 joint return) plus $500 per child. This will phase out for incomes above $75,000 ($150,000 joint filings).

González added that two possible send dates were given: April 6 or May 18. On both dates, the payment will be divided into two. For example, an individual would receive $600 for the first check, followed by another for $600. For couples who file jointly, it would be $1,200 for the first check, and $1,200 for the second.

“This is a great help for our individuals, taxpayers and pensioners,” said the resident commissioner, who also announced that $200 million would be allocated for food stamps. In addition, regional airports, ports, among others will receive funds, as well as the government and municipalities.

In the case of small and medium-sized businesses, “all those that have loans with the Small Business Administration, if they are using them for the payment of payroll and other things, they will be able to prorate them for six months. All interest, payments and fees will be deferred for six months,” the lawmaker said.

In addition, she mentioned that the federal government will forgive small- and midsize-business loans under a new program if they have kept their employees since Feb. 15, and do so until June 30. Loans that are used for payroll, mortgage interest, rent, payment of utilities for at least 8 weeks, will be forgiven.

“This is going to be tied to keeping your employees on payroll,” she said.

You must be logged in to post a comment Login