The Treasury ensures that the second aid package arrives faster this time

Faced with the imminent approval of a second federal aid package to alleviate the economic crisis triggered by the COVID-19 epidemic, the Treasury Secretary, Francisco Parés, said he has been in talks with the federal Internal Revenue Service (IRS) since yesterday to obtain the precise details and start the payout process as soon as possible once the bill becomes law.

Parés confirmed to be El Nuevo Día It is expected to be a mechanism similar to the first incentive approved in March, so we have already started drafting the distribution plan to be approved by the IRS and the Federal Treasury to allow payments to be able to do..

What we have so far is that the US Congress and Senate were preparing to approve a second financial stimulus package for the coronavirus, estimated to be about $ 900,000 million; another $ 600 remittance to each US citizen, the Pandemic Unemployment Assistance Program (PUA) renewal, but with a reduced $ 300 benefit, and another round of Payroll Protection Loans (PPP).

The secretary explained that, For the first aid kit, it took the federal treasury 36 days to approve the distribution plan. “This time we estimate it could take the same time. However, we expect that once the plan is approved, distribution will be faster because we already have the infrastructure and citizens’ information to make much of these payments. We are confident that the phases of distribution will be implemented faster, ”he said.