The Federal Tax Code needs to be changed! Puerto Rico is not “foreign!”

Congress and the Trump Administration must take steps to restore stability to the island.

The crisis could be extremely costly for the people of Puerto Rico and U.S. taxpayers alike.

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SAN JUAN, PUERTO RICO—Discover Puerto Rico, the island’s destination marketing organization (DMO), has revealed that January-April 2019 occupancy spending reached $373.6 million, the highest in the past eight years, and an increase of 12.4% when compared to 2017 pre-hurricane Maria levels, according to STR and the AirDNA Monthly Trend Report, January-April, 2019. The island’s lodging… read more

By Luis Valentin Ortiz, Reuters SAN JUAN (Reuters) – Puerto Rico’s federally created fiscal oversight board on Monday imposed a fiscal 2020 budget on the bankrupt U.S. commonwealth that for the first time limits spending choices by its government, according to the board’s executive director. FILE PHOTO: Puerto Rico Governor Ricardo Rossello speaks during a… read more

By Eva Lloréns Vélez, Caribbean Business SAN JUAN — After the head of the Puerto Rico Electric Power Authority (Prepa), José Ortiz, said he would submit the utility’s integrated resource plan to the Energy Bureau (PREB) by May 31, he has requested an extension until Friday. On Wednesday, the regulator granted Prepa’s request as well… read more

By Nicole Acevedo, NBC News Puerto Rico residents, who already pay almost twice as much for electricity as U.S. customers, are facing a 13 percent spike under an agreement government officials made to repay bondholders who own the debt of the island’s bankrupt power authority. The average residential household in Puerto Rico would start seeing… read more

By Ashley Hackett, Pacific Standard When Amanda Y. Feliciano Bonilla was growing up, she never imagined leaving her home island of Puerto Rico. Raised in what she calls “the projects” of Guaynabo, a low-income area surrounded by wealth, Bonilla takes pride in the person she’s become and in the community she calls home. Unfortunately, she… read more