The Resident Commissioner, Jenniffer González Colón, this morning highlighted the inclusion of the expansion into Puerto Rico from the retail credit (CTC) and the work credit (EITC) next to send $ 1,400 for individuals Y extension of unemployment benefit within the design of new stimulus package for the pandemic, released last night by the House of Representatives’ Ways and Means Committee.
“The Ways and Means Committee’s new COVID-19 aid project includes our CTC and EITC projects that I have worked on in a twofold way since I came to Congress. I am grateful to the chairman of the committee, Richard Neal, with whom I discussed the measures, for including them. These proposals are essential to Puerto Rico’s economic development; they also represent a relief for the working class, ”González Colón said in a press release.
On the island, the Treasury is still depositing $ 600 from the second federal economic stimulus package due to the pandemic.
This four-year period, the Resident Commissioner filed HR 106, which would make working families with 1 or 2 children eligible for a federal tax credit of up to $ 2,000 per child. The Child Tax Credit (or Child Tax Credit – CTC) would benefit approximately 355,000 families and 404,000 children, which equates to $ 300 million per year.
Parents must file a claim directly with the IRS, as they currently do for residents of Puerto Rico with three or more children.
The Commissioner also filed HR105 to renew the Earned Income Tax Credit, this initiative is also included in this draft. The federal government would give up to three times as much credit for Creole work.
These initiatives have been promoted by the Commissioner since her first term in Congress and are included in the letter she sent to President Joseph Biden, presenting a list of priorities for the island.
Control of economic incentives
Included is the shipping of a $ 1,400 taxpayer check ($ 2,800 for couple contributors) in addition to $ 1,400 per dependent. A dependent is not limited to one child, but a child whose Social Security number is linked to the income tax return. These controls are not subject to federal or state administrative debt or maintenance arrears.
The Coronavirus Response Act benefits of the Families First Act will be extended, for paid sick days and paid family leave that expires from March 31, 2021 to September 30, 2021.
Unemployment benefits, which expired in May, would now be extended to August and increased from $ 300 to $ 400 per week.
Employers who continued to pay their employees during the pandemic have the period to apply for the extended credit until December 31, 2021.
It is expected that the draft of the measure will be formally submitted today and will be voted on in the Ways and Means Committee tomorrow, Wednesday, there is no date yet for discussion of the measure in the Grand Chamber.