Tax Reform Behind Schedule
El Vocero reports that the tax reform project that the
Chamber of Representatives seeks to pass in the following
months is still not ready and the present administration
hasn't even received the models for what the different
revenue options would be were a reform to pass. Despite
this, the internal revenue committee heads in the Chamber
and the Senate, Rafael Hernández Montañez and José R. Nadal
Power, believe that the reform could be approved during the
first quarter of 2015 and that it can be applied retroactively
to January, in order to cover 2016 tax returns.
Fire Consumes Bayamon Furniture Store
According to Noticel, a fire of unknown origin destroyed
the "Muebleria de Liquidaciones y Subastas" furniture
warehouse store in Bayamon on Monday night. The warehouse
is located between Roads 2 and 168 in the Hato Tejas district.
Losses have been estimated to be over one million dollars,
although no injuries have been reported. About ten families
were temporarily evacuated from their nearby homes during the
fire.
More Migrants Crossing Into PR Waters
"U.S. Coast Guard officials say roughly 9,800 people
from Cuba, Haiti and the Dominican Republic attempted
to migrate illegally to the U.S. by sea in the last fiscal
year. They point to a rise in illegal trips to Puerto Rico..."
PR Senate Clears Path for Government Borrowing
From The Wall Street Journal:
"Puerto Rico’s Senate voted to permit the government to sell
as much as $1.2 billion in tax- and revenue-anticipation notes,
clearing the way for the commonwealth’s first borrowing since
it passed a law allowing some public agencies to restructure
their debts..."
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