Gov. Ralph DLG Torres has committed over $50 million in the next two years using the American Rescue Plan Act funding to assist the CNMI\u2019s tourism industry as well as the business community, according to Finance Secretary David DLG Atalig.<\/p>\n
\u201cYes, we are budgeting that amount. However, it does not mean they have to spend all of it,\u201d Atalig told Saipan Tribune yesterday.<\/p>\n
He said the administration is committed to the success of the tourism resumption initiative, which is being called Travel Resumption Investment Plan, or TRIP.<\/p>\n
Atalig disclosed the $50-million commitment during a radio news briefing last Friday. <\/p>\n
At the same briefing, Atalig said they have not processed any additional stimulus batches, but are expecting another large batch after the May 17 deadline to file tax returns. <\/p>\n
As to the question at the briefing if the Torres-Palacios administration has identified an amount yet for subsidies for businesses in the tourism industry, Atalig said they have a percentage that they\u2019re allocating. \u201cWe are still fine-tuning how we\u2019re going to go about this,\u201d he said.<\/p>\n
The secretary said they\u2019re talking about funding to assist small businesses here in the CNMI. That funding may be coursed through the Commonwealth Development Authority, Small Business Development Center, or the proposed Commonwealth Economic Development Authority.<\/p>\n
\u201cThose are in play, those are in discussions,\u201d he added. <\/p>\n
Atalig said they want to make sure that funding is available to those businesses or opportunities for those businesses that are not able to receive funding through the U.S. Small Business Administration\u2019s Paycheck Protection Program. <\/p>\n
For other small business, they\u2019re pushing the Restaurant Relief Program and Small Business Development Center. Atalig said the Department of Commerce provided last week some workshops to try to help restaurants get some funding. <\/p>\n
\u201cSo there\u2019s a lot of programs going in but we will make sure that we have some funding that will help those that fall through the gaps,\u201d he added. <\/p>\n
As for further stimulus payments, Atalig said they will have another large batch once tax returns are submitted by the May 17 deadline and they identify the ones that haven\u2019t received their stimulus checks yet. \u201cI ask our taxpayers to make sure that they fill out those forms, those supplemental forms to submit with their tax returns for their 2020, identifying if they received the first, second, or even the third stimulus,\u201d he said. <\/p>\n
The secretary said they will make sure that funding is available so those that have not received but are qualified to do so will get their stimulus checks. <\/p>\n","protected":false},"excerpt":{"rendered":"
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