CNE – Centro Para Una Nueva Economía – Center for a New Economy
Non-profit, economic research and policy development organization
In a world where it seems there is only bad news, I’d like to share some good news that recently came out of the U.S. Court of Appeals for the First Circuit regarding the Supplemental Security Income (SSI) program and its extension to the residents of Puerto Rico.
As soon as the third federal coronavirus response package was signed into law, the clock started ticking for small businesses already overwhelmed by business-altering decisions. Business owners, sole proprietors and leaders of nonprofit organizations rushed to ensure their organizations would not be left out of any available help. But, as it turns out now, the scale tipped towards those with most leverage and influence on the Hill.
In the past couple of days,  the federal government has taken several steps to respond to the worsening COVID-19 crisis. Among the most notable are: 1) extending social distancing guidelines through the end of April, 2) conferring the power of the Defense Production Act to increase the supply of health supplies, and 3) passing the Families First Coronavirus Response Act and the Coronavirus Aid, Relief, and Economic Security Act.  Read on for relevant notes of each.
Puerto Rico, which has seen its share of significant back-to-back crises, is once again caught unprepared to tackle the economic costs and public health challenges that will arise from this epidemiological shock. It is just not equipped to face a large-scale health care crisis. That is unless we can secure federal support and empower local institutions.
Puerto Rico received the new year with a series of earthquakes, aggravating its ability to recover from the 2017 hurricanes. In response to the significant damages suffered once again by the residents of Puerto Rico, and increasing public pressure, on January 16, 2020, the Federal Government took several actions related to Puerto Rico’s Disaster Recovery Process. Read on for a brief summary of these actions.
On December 11, 2019, the U.S. House of Representatives passed in a 377-48 vote the Conference Report to accompany the fiscal 2020 National Defense Authorization Act (NDAA), or S. 1790 which authorizes funding for fiscal year 2020 for military and defense activities of the U.S. Government. Embedded in the massive legislation is Rep. Nydia Velázquez’s H.R. 3372, the Small Business Contracting Credit Act of 2019.
Last night the House unveiled a continuing resolution (CR) that would fund the government through December 20. What does this mean for Puerto Rico?
Upward mobility has always been a cornerstone of the “American dream”; the opportunities are boundless as long as you put in the work. Ringing true to that promise, the federal government created the Earned Income Tax Credit (EITC) in 1975 to reduce the tax burden for low- and moderate-income working families.
