Approximately 20,000 payments totaling $53,839,424 were processed by the Department of Revenue and Taxation on Saturday and will be transmitted to the Treasurer of Guam early this coming week to be mailed out.
DRT received federal funds for the Third Economic Impact Payment (EIP 3) program for Guam today.
Notification of the approval of Guam’s Third Economic Impact Payment (EIP 3) Plan was received just shortly after midnight Guam time.
EIP 3 was authorized by the American Rescue Plan Act of 2021 which was signed into law by President Biden on March 11, 2021.
The federal program provides $1,400 to individuals.
“We have an unwavering commitment to take care of our people, most especially during this public health emergency,” said Gov. Lourdes A. Leon Guerrero on Saturday morning. “Even as we were waiting on approval for our Plan, our team was working behind the scenes to make sure that payments would be able to be processed as soon as funds were received. We are thankful to the Internal Revenue Service and the U.S. Treasury for working with DRT, and to the DRT team for working tirelessly to make sure that these payments are ready to release early this week.”
“For this round of payments, we were able to receive funding to cover the cost to administer the EIP Program. We are thankful to Congressman San Nicolas for his assistance with this,” said Lt. Gov. Joshua F. Tenorio.
“This is critical as we work to maintain our general fund.”