CNE – Centro Para Una Nueva Economía – Center for a New Economy
Non-profit, economic research and policy development organization
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This week we delve into Biden’s Rescue Plan and what it will take for it to be approved by Congress. We go beyond Biden’s plan as well, looking at rescue packages in the European Union and what Puerto Rico can expect in the context of its reconstruction. Finally, we present a piece on municipal bond prices in our data snapshot.
President Joe Biden unveiled last week a $1.9 trillion COVID-19 relief package to help stabilize the faltering U.S. economy.
El Plan de Rescate Americano representa un alivio para Puerto Rico pero debe ser visto como una de las piezas del complejo rompecabezas que constituye la recuperación económica de la isla.
In this first edition of 2021, we first present a memo to the federal government on the priorities for Puerto Rico that they should focus on as the new administration begins its work. We also present a memo to the local designated Housing Secretary on the issue of coronavirus emergency rental assistance for Puerto Rico. Finally, our data snapshot shows the Commonwealth’s cash balance.
In general, the new Administration should focus its energy on providing the residents of Puerto Rico equal access to federal programs and funding so it can avoid poverty traps and spur economic growth.
The Consolidated Appropriations Act of 2021 included $25 billion in emergency rental assistance for FY 2021, with a $400 million carve-out for Puerto Rico, U.S. Virgin Islands, Guam, American Samoa, and the Commonwealth of Northern Mariana Islands. The Secretary of the Treasury will make allocations based on population size and eligibility.
Last night President Trump took to Twitter to threaten with a Presidential veto the long-awaited COVID relief bill. The current short-term continuing resolution (CR) also expires next Tuesday, December 29, meaning that Congress has little time to make adjustments to the Covid relief bill.
Han pasado más de tres años desde que los huracanes Irma y María nos azotaron sin piedad, y todavía la reconstrucción posdesastre parece una promesa lejana y sin cumplir.
