While the CNMI Department of Finance expects to receive about $85 million for the first distribution of the third stimulus payments, it expects to get an estimated $120 million-plus in all, said Finance Secretary David DLG Atalig Thursday.<\/p>\n
\u201cIt\u2019s a moving target,\u201d said Atalig.<\/p>\n
Speaking at the Torres administration\u2019s regular news briefing on radio, Atalig said they\u2019re already prepared to submit a request for additional funds. \u201cKeep in mind, the second stimulus was $600 per taxpayer, and we distributed well over $52 million,\u201d he said. <\/p>\n
From $600 to $1,400 per taxpayer is about a 60% increase in stimulus funds, Atalig said, so the CNMI should get way over $100 million in stimulus funds for distribution.<\/p>\n
He said the U.S. Internal Revenue Service gives the CNMI about 80% of their estimates as part of the first transfer.<\/p>\n
\u201cSo we\u2019ll use that figure to get all those out,\u201d he said.<\/p>\n
Delegate Gregorio Kilili C. Sablan (Ind-MP) earlier said the American Rescue Plan reduces eligibility for the $1,400 rebate so no individual making more than $80,000 qualifies, a change that should have little impact in the Marianas. <\/p>\n
Finance expects the third stimulus to be processed this week or next week. <\/p>\n","protected":false},"excerpt":{"rendered":"
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