New Puerto Rican status bill introduced

After months of debate and hearings on the Island and on Capitol Hill, Rep. Raul Grijalva (D-AZ), the chairman of the House Committee on Natural Resources, formally introduced a bill on July 14 that, if passed by the House and Senate this year, would grant Puerto Ricans three options for their future in a binding referendum.  The three options would be statehood, independence, and “free association,” the latter is a modified version of the status quo granting Puerto Rico more autonomy in several areas. Free association is the current arrangement that the Marshall Islands, Palau, and the Federated States of Micronesia have with the United States government. Under the bill, if no option gets 50% of the vote in the plebiscite, there would be a run-off of the top two options shortly thereafter. Congressman Darren Soto (D-FL), who is of Puerto Rican descent, believes the bill can be passed out of the House in September. Its path remains unclear in the Senate, where it would need 60 votes to pass.

Online tool helps Puerto Ricans to sign up for Child Tax Credit

On July 14, Code for America, a non-profit tech organization, launched a new online tool called “GetCTC” that allows Puerto Ricans to apply for and receive the $3,600 in child tax credits from the American Rescue Plan. Though the credits expired last year, an estimated 90% of eligible Puerto Ricans never received them. This tool allows them to receive this money. A separate tool within GetCTC was also launched for Puerto Ricans who never claimed the $1,400 in IRS Covid relief credits made available during the height of the pandemic. The deadline to claim this money is April 15, 2025 and the tool is available in both English and Spanish.

N.Y. Federal Reserve President optimistic on Puerto Rico recovery

John C. Williams, President and CEO of the Federal Reserve Bank of New York, said in a recent interview with El Nuevo Dia that he is optimistic that the debt restructuring and influx of federal funds over the past few years have sufficiently stabilized Puerto Rico’s economy and, therefore, a positive outlook is warranted. There is a strong sense from the Island’s business community that Puerto Rico is on the rebound, even as interest rates climb and global supply chain issues remain a problem. As is the case across the U.S., where the employment market is very strong despite lagging consumer confidence, there are many jobs available in Puerto Rico; however, a lack of skilled workers is the main factor holding the economy back from reaching its full potential. The next few years are incredibly important but could set the stage for economic growth for Puerto Rico.