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Finance ready for 2nd stimulus package
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Posted on Oct 13 2020
Finance Secretary David DLG Atalig, who remains optimistic that a second stimulus package is coming soon, assured that the department is ready and prepared to release the anticipated relief checks for the community.
Speaking at a radio news press briefing last Friday, Atalig said they recognize that the COVID-19 pandemic continues to hamper the CNMI’s economy. “It continues to make our residents struggle with getting jobs or getting their jobs back,” he said, and that any form of financial assistance from the federal government is very much needed, most especially in a community on an island region that is heavily dependent on tourism. He said this pandemic pretty much killed the tourism industry worldwide.
Atalig said he is closely following the different talks and activities about the second stimulus bill between the U.S. House of the Representatives, the U.S. Senate, and the White House. He said he does not have any insights as to where is the negotiations are at but that he is hopeful and pray that relief will be coming soon to the CNMI in the form of a stimulus package.
Atalig said the information that they have received directly from Revenue and Taxation or from the Internal Revenue Services is to prepare for a second stimulus package. “So we’re prepared. Our process in the first stimulus rollout went very well and we’ve tightened up some loopholes that we’ve had,” he said.
Atalig said they’re prepared and ready to release a second stimulus should that be passed by the federal government or by the U.S. Congress and the White House. “And so my thoughts are it is a well-needed relief that we are heavily anticipating to happen, hopefully sooner than later,” the said.
In the first batch of stimulus funding, the checks provided up to $1,200 for every eligible individual, $2,400 for joint returns, and $500 for every qualifying child.
As of last July 28, it was reported that Finance has issued $51 million out of the $54 million that was anticipated to be released for stimulus.
It was reported that President Donald Trump had said stimulus negotiations with House Speaker Nancy Pelosi (D-California) are “starting to work out” on Thursday morning.
