The government of the Virgin Islands is making strides in fulfilling its financial commitments to residents, with two major disbursements announced in recent days. Last week, $5 million in tax refunds were issued to taxpayers who filed through February 5, 2024. Now, the government is preparing to distribute millions in retroactive wage payments to current and former government employees by the end of this month. Together, the two actions signal a continued effort to reduce longstanding obligations and provide financial relief to Virgin Islanders.
During a press briefing on Monday, Governor Albert Bryan Jr. announced that government finance, budget, and personnel officials are preparing to disburse $22.5 million in payments by the end of this month.
“Those owed $2,500 or less will be paid in full, benefiting an estimated 2000 individuals,” Governor Bryan said, noting that after this tranche of funds is disbursed, a quarter of those owed would have fully paid off. Those owed more than $2,500 would receive a payment representing 14% of the balance.
“I urge you and encourage you to visit the Department of Finance website and submit your direct deposit form to receive your funds as quickly as possible,” Governor Bryan said to those eligible for the payments.
Remarking on the current high-cost, inflationary economic environment, the governor said that “this payout represents a measure of relief, but also a recognition of sacrifice and service on their behalf.”
Governor Bryan thanked lawmakers for acting quickly to approve the spending and ensuring that the appropriation was tied to a dedicated funding source. He noted that in addition to these retroactive payments, government officials continue to work to ensure money owed to the people of the Virgin Islands is paid to them in a timely fashion.
Remarking on the latest tranche of tax refunds – $5 million distributed last week – Governor Bryan said that “this payment reflects a milestone as we've begun to pay refunds for taxpayers who have filed through February 5, 2024.” He observed that refunds would have already caught up on tax returns to date had the government not allocated funds for retroactive payments. “Everybody is not going to be happy, but we must continue to prioritize what we will pay,” the governor declared. “Trust me, it's a burden, but it's a commitment that we have to keep.”
Advertisements
