Senate OKs resolutions to establish PPP, encourage Web-based digital economy

The Senate adopted on Tuesday a resolution to request Gov. Arnold I. Palacios to seek the assistance of the federal government to establish a Paycheck Protection Program to help businesses keep their workforce employed during the post-COVID-19 pandemic economic recession.

The Senate also adopted during the same session a resolution to encourage the public and private sectors to actively work to support the acquisition and retention of resident individuals and businesses participating in the internet-based digital economy.

The Senate adopted Senate Resolution No. 23-13 and Senate Resolution No. 23-14 without discussions. Senate President Edith E. DeLeon Guerrero (D-Saipan) is the author of both resolutions.

On Senate Resolution No. 23-13, DeLeon Guerrero earlier stated that they need to find ways to help businesses stay afloat while the lack of sufficient flights/tourists is being navigated.

The Senate president said the PPP saves jobs and businesses. She noted that many businesses are still struggling and are far from their pre-pandemic levels.

She stated in the resolution that one way to assist businesses and their employees during this difficult time is to request for federal assistance to establish a CNMI-only PPP for a certain period of time, similar to the Small Business Administration’s PPP during the COVID-19 crisis.

With respect to Senate Resolution No. 23-14, DeLeon Guerrero earlier stated that the CNMI will reap significant benefit from attracting internet-based businesses and remote workers to become residents.

“Besides tourism, this is another business sector of an economy that we can attract into our market to generation additional revenue,” the Senate president told Saipan Tribune.

She stated in the resolution that CNMI-based remote workers earn their income from sources outside the CNMI, yet these workers spend that income and pay taxes on that income in the Commonwealth.