In response to the global emergency and economic disruption caused by the COVID-19 pandemic, the Puerto Rico Fiscal Agency and Financial Advisory Authority (FAFAA) continues to work diligently to support Puerto Rico's path to economic recovery. The United States Federal Government and the Government of Puerto Rico have established several stimulus programs to aid individuals, families, and business during the pandemic.
As part of the Government of Puerto Rico's commitment to transparency and accountability, FAFAA has developed this section containing the most up to date information on state and federal relief programs available as part of the COVID-19 emergency response. As part of these efforts, the Government of Puerto Rico has developed new reports detailing the deployment of COVID-19 emergency funds.
Federal Aid Package
In its effort to combat the COVID-19 pandemic, the Federal Government has dedicated a historic amount of financial support through both monetary and fiscal policy actions. The total impact of the federal monetary and fiscal stimulus programs so far exceeds $6.8 trillion.
Actions
Est. Amount (billions
Phase 1: Preparedness and Response Supplemental Appropriations Act
$8
Phase 2: Families First Coronavirus Response Act
104
Phase 3: Coronavirus Aid, Relief, and Economic Security Act
2,283
Phase 3.5: April 2020 Package
484
Subtotal Fiscal Policy Action
$2879
Estimated Monetary Policy Actions
4,000
Estimated Total Impact
$6,879
On March 13, 2020, President Donald Trump declared a national emergency in response to the COVID-19 pandemic. The declaration allows the administration to utilize the Stafford Act, a federal law governing disaster-relief efforts. The declaration makes $50 billion in emergency funding available to states and territories.
The emergency declaration follows a $8.3 billion emergency COVID-19 aid package signed by the President on March 6, 2020, known as the Coronavirus Preparedness and Response Supplemental Appropriations Act. At least $1.05 billion of this package will go to state, local and tribal efforts through grants and cooperative agreements with the Centers for Disease Control and Prevention or as reimbursements from the Federal Government. The initial federal aid package was focused largely on public health concerns.
On March 18, 2020, the Families First Coronavirus Aid Package was enacted. The bill includes free COVID-19 testing for those uninsured, emergency paid sick leave, expanded family and medical leave programs, unemployment assistance, food aid and federal funding for Medicaid.
A third phase of federal COVID-19 relief, the CARES Act, was signed into law on March 27, 2020. The relief package, as amended on April 24, 2020, allocates an estimated $2.8 trillion to battle the harmful effects of the COVID-19 pandemic (Exhibit 7). The package is the biggest fiscal stimulus package in modern American history. As one of the main categories of the stimulus bill, state and local governments will receive $150 billion to help fund the unanticipated costs of fighting the pandemic. Additionally, the bill establishes a ~$500 billion lending fund for businesses, states and cities. Eligible taxpayers will receive a $1,200 direct payment and $500 for each dependent child.
On April 24, 2020, the PPP and Health Care Enhancement Act was signed into law as an amendment to the CARES Act. The $484 billion package includes $310 billion for the SBA’s PPP with $60 billion allocated for loans made by small lenders and community-based institutions, $50 billion for the SBA’s Economic Injury Disaster Loan program, and $10 billion for the SBA’s Emergency Economic Injury Grant program. It also includes the HHS Hospital and Provider Grants under the Public Health and Social Services Emergency Fund that provides an additional $75 billion to support the need for COVID-19 related expenses and lost revenue due to COVID-19. Finally, it provides $25 billion for necessary expenses to research, develop, validate, manufacture, purchase, administer and expand capacity for COVID-19 tests.
On April 22, 2020, the Government of Puerto Rico announced that it received over $2.2 billion from the U.S Treasury Department as part of the CARES Act stimulus package to assist the island with emergency expenses and mitigate the effects of the global pandemic and the subsequent economic downturn. The Government of Puerto Rico is fully committed to assisting individuals, businesses, and the municipalities with these funds, while following the U.S. Treasury Department guidelines.
The plan allocates funding for three main components: (i) testing, contact tracing, isolation and treatment, (ii) reactivating the economy and protecting jobs and (iii) Government service continuity.
i. The first component is the allocation of funds to expand and continue the COVID-19 testing program (both rapid and molecular tests), purchase sanitizing products and protective equipment and materials, as well as screening and isolation programs for people infected or suspected of being infected with COVID-19. This component is critical as it will assist the Government’s efforts to attend the emergency, contain the spread and prepare a short, medium and long-term plan for the gradual reopening of public and private sector operations on the Island.
ii. The second component will allocate funds to compensate various economic sectors and industries for the business interruption losses experienced as a result of COVID-19. Among those targeted by these funds are the healthcare and tourism industries, small and medium sized businesses and the self-employed. This component includes the private sector PPP which will partially reimburse employers that continue to pay their employees despite having their operations affected by COVID-19.
iii.The third component will address the continuity of Government services during the COVID-19 emergency. The Government will allocate funds to Municipalities and correctional facilities for eligible expenditures under the CARES Act and hardware and software programs for public sector employees to work remotely.
On May 15, 2020, Governor Wanda Vázquez Garced issued Executive Order OE-2020-040 establishing Puerto Rico´s Strategic Disbursement Plan for the Coronavirus Relief Fund under the CARES Act.
Click HERE to read the Strategic Disbursement Plan. Click HERE to read Executive Order OE-2020-040.
Coronavirus Relief Fund Guidelines
The U.S. Treasury Department published the Coronavirus Relief Fund Guidance for State, Territorial, Local, and Tribal Governments. These guidelines provide guidance to recipients—including Puerto Rico and its municipalities—of the funding available under the CARES Act, particularly the $150 billion Coronavirus Relief Fund (CRF). The guidance sets forth the U.S. Department of the Treasury’s interpretation of the CARES ACT limitation on the permissible use of CRF payments.
CRF Assistance Program to Centers for Diagnostics and Treatment (CDTs)
CRF Assistance to Survivors of Domestic Violence and Abuse Program
CRF Business Interruption Grant (BIG)
CRF Assistance Program to Private Hospitals
CRF Assistance Program to Public Hospitals
CRF Assistance Program to Municipalities
CRF Assistance Program to Small Businesses
CRF Assistance Program to Medium Businesses
CRF Assistance Program to Tourism Businesses
CRF Assistance Program to Remote Learning Solutions for Students
CRF Assistance Program to Remote Work and Distance Education Program of the Government of Puerto Rico
CRF Assistance Program to COVID-19 Emergency Expenses in Prisons
CRF Assistance Program to Acquisition of Materials and Personal Protective Equipment
CRF Assistance Program for Private Sector Payroll Protection Program (PPP)
CRF Assistance Program for Telemedicine Program in Puerto Rico
Puerto Rico Fiscal Measures In Response toCOVID-19 Pandemic
This is the official dashboard on COVID-19 statistics of the Government of Puerto Rico. This dashboard contains the latest data related to the virus in the island.
Emergency Funds
The Oversight Board has also authorized the use of the Emergency Reserve to manage expenses related to the pandemic.
In addition to the federal stimulus package, the Government announced an unprecedented package of direct assistance to workers and businesses which totals $787 million and is intended to supplement the federal aid and help alleviate the economic impact caused by the COVID-19 pandemic.
DOWNLOAD THE WEEKLY REPORT ON THE USE OF THESE FUNDS
FRAUD, WASTE AND ABUSE
Puerto Rico COVID-19 Dashboard
This is the official dashboard on COVID-19 statistics of the Government of Puerto Rico. This dashboard contains the latest data related to the virus in the island.
