May 4, 2020- Washington, D.C. – Governor Wanda Vázquez Garced announced that U.S. Treasury Secretary Steven T. Mnuchin approved the disbursement of Economic Impact Payments (EIPs) in accordance with the CARES Act (P.L. 116-136). This announcement comes after last Friday’s approval by the U.S. Treasury of the Government of Puerto Rico’s distribution plan. The plan, diligently worked on by the Puerto Rico Department of Treasury (Hacienda for its Spanish name), provided the required details for the reimbursement of the EIPs from the IRS, currently estimated at approximately $3 billion. Since this weekend, EIPs have been deposited to the bank accounts of thousands residing on the island, and Hacienda will continue to work to deliver these payments in a timely manner. These stimulus payments are part of the massive $2 trillion economic relief package passed by Congress last month to provide a stimulus to the economy and alleviate those impacted by the Coronavirus COVID-19 pandemic.
“We are pleased that Economic Impact Payments are being disbursed to U.S. citizens in Puerto Rico,” said Secretary Steven T. Mnuchin. “I thank Governor Wanda Vázquez Garced and the Puerto Rico Department of Treasury (Hacienda) for working closely with us to ensure that this much-needed relief is provided quickly.”
“We thank Secretary Mnuchin and his team for supporting Puerto Rico through this process and helping to alleviate the economic hardships of thousands as the island continues to grapple with the COVID-19 pandemic,” said Governor Wanda Vázquez Garced. “My Administration continues to take the necessary measures to ensure the health and safety of the people of Puerto Rico and we continue to move forward in an orderly manner to reopen the island’s economy. We welcome this partnership with the U.S. Department of Treasury and look forward to continuing to collaborate with Secretary Mnuchin.”
“I’m honored to have worked with my Congressional colleagues to include Puerto Rico in the rebate payments of the CARES Act, and to see it come to fruition today,” said Jenniffer González Colón. “I thank President Trump for his commitment to aid Americans during this time of economic distress and uncertainty. I also thank Secretary Mnuchin, and the teams at the Department of Treasury and the IRS for working with Secretary Pares and the Governor to review and approve this plan so that our constituents can rely on this federal aid as we, together, move forward to overcome this pandemic.”
“We will continue working diligently to ensure that U.S. citizens in Puerto Rico have access to available federal resources during this pandemic,” said Jennifer M. Storipan, Esq. “These economic impact payments are a very important part of our recovery and will provide much-needed relief to those currently struggling to pay rent, purchase essential services, and pay bills. PRFAA looks forward to continuing our working relationship with Secretary Mnuchin and the U.S. Department of Treasury.”
“During this process, the U.S. Department of Treasury and the Internal Revenue Services (IRS) have provided Hacienda the necessary tools to ensure that thousands receive these stimulus checks,” said Hacienda Secretary Francisco Parés Alicea “This is a product of teamwork, and we want to thank Secretary Mnuchin for authorizing our Economic Impact Payment Distribution Plan and Ms. Dee Robinson and Commissioner O’Donnell from the IRS for collaborating with us through this process. We are committed to guaranteeing access to resources to the people of Puerto Rico as we continue to combat COVID-19 together.”
Governor Wanda Vázquez Garced also announced that in forthcoming days there will be a quick link to the “Pago Impacto Económico CARES Act” (per its Spanish name) through the Unified Internal Revenues System (SURI per its Spanish acronym) to taxpayers that filed taxes in 2019 and didn’t register their bank accounts. Additionally, for those whom the federal government does not have bank-account direct-deposit information, they must wait for a physical check in the mail or can submit their information through the online tool the IRS has provided here.