75% reimbursement of EITC for Guam in newly passed HR 5687

Congressman Michael San Nicolas (PNC file photo)

The House of Representatives has passed HR 5687, the Emergency Supplemental Appropriations for Disaster Relief and Puerto Rico Disaster Tax Relief Act of 2020

According to Guam Delegate Michael San Nicolas, within HR 5687 is language to rebate 75 percent of Earned Income Tax Credit (EITC) to territories with tax codes that mirror the U.S. tax code.

“Our advocacy for our brothers and sisters in Puerto Rico continues to pay off for Guam, as our need for EITC reimbursement was included in HR 5687 that has centered on the disaster relief needs of Puerto Rico,” San Nicolas said in a release.

He added: “With a 75 percent reimbursement, Guam will recover approximately $40 million in EITC costs every year, enabling us to pay tax refunds faster, address our hospital and public safety needs, and start getting some roads repaired.”