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Thursday, March 2, 2017

Puerto Rico News Digest For March 2, 2017


FISCAL PLAN SEEKS LESS AUSTERITY 


















From AP:

"Puerto Rico's governor submitted an austerity plan made public on Wednesday
that would cut deeply into the U.S. territory's budget while avoiding some of the
most painful measures recommended by a federal control board that is overseeing
the island's effort to confront a debt crisis that has led to repeated defaults. Gov.
Ricardo Rossello's plan would cap some Medicaid benefits, effectively raise pro-
erty taxes and collect a tax on internet purchases. It would also scrap some infras-
tructure projects and could turn ferries, ports and parking lots over to private com-
panies..."


SHROUDED CORPSE FOUND ON RIO PIEDRAS STREET


As reported today by El Vocero, a dead body shrouded in a bedsheet with appa-
rent blows to the head was found near a church on Sucre Street in the Buen Con-
sejo sector of Rio Piedras at around 10:15 AM today. San Juan homicide detec-
tives arrived at the scene to investigate, but the victim is as of yet unidentified.


ROSSELLO: MUNICIPAL SUBSIDIES TO BE REDUCED


From El Nuevo Dia:

"Yesterday, Governor Ricardo Rosselló Nevares explained that the elimination of
the $350-million subsidy for municipalities—as is proposed in the plan his admi-
nistration submitted to the Oversight Board—would be a gradual process, while
new municipal sources of income are established. Rosselló Nevares specifically
referred to the proposal to increase the Municipal Revenue Collection Center
(CRIM, for its Spanish acronym) property tax revenues. This initiative, as exp-
lained by the Governor, would entail a property reappraisal, since properties are
currently measured with values that date back to the 1950’s..."


FIRST CHINA-PUERTO RICO FORUM BEGINS IN SJ


From Caribbean Business:

"Puerto Rico is hosting the First China-Puerto Rico Investment Forum at the Pe-
dro Rosselló Convention Center in San Juan. The invitation-only activity is the
first organized by Yingke Caribbean China Center, which was established by the
Yingke Law Firm, the largest international commercial law firm from Beijing,
whose goal is to bring Chinese investments to Puerto Rico and the Caribbean.
During the event, Gov. Ricardo Rosselló received the Distinguished Contribu-
tion Award between the United States and China, presented by the China U.S.
Business Association..."


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