FEMA AND THE TREASURY DEPARTMENT REFUSE THE AID LOAN TO PUERTO RICO DUE TO ITS OWN “SUFFICIENT” FUNDS It's fair to say the press has mischaracterized both sides on this issue. FEMA is too slow, but not the enemy, and PuertoRico didn't help its case after using millions to pay Xmas bonuses. https://t.co/w8yGJYZMfz — Rina Gonzalez (@EdTransformPR) January 18, 2018 On January 9, FEMA and the Treasury Department informed the government of Puerto Rico that they will not disburse the loan through the Community Disaster Loans Program, after they found out that Puerto Rico had a cash balance on...Read More
Author: Daria Shumilova
THE OLD DEMANDS OF PUERTO RICO STATEHOOD STATUS WITH A NEW APPROACH Puerto Rico demands statehood, introduces shadow lawmakers to Congress https://t.co/NVn4rMY0NN via @dcexaminer — Will McFarland (@McFarland69Will) January 12, 2018 Last week Puerto Rico announced a new wave of campaign for the statehood status, however, this time, the approach will take a slightly different path. Puerto Rico’s approach has changed in mid-2017 to embrace the same strategy that Tennessee used in 1796 to gain the status of a state, when it sent a shadow congressional delegate to lobby lawmakers in Washington. The members of the Puerto Rican delegation...Read More
TAX REFORM BILL PASSED, WHAT DOES IT MEAN FOR PUERTO RICO? US Senate passed the tax reform bill https://t.co/Ge5NxsjxB0 pic.twitter.com/ji3FQnsjWs — Noti Puerto Rico🇵🇷 (@Noti_PuertoRico) December 2, 2017 Last week, the new tax bill passed through the Senate. The vote was 51 in favor and 49 against with Senator Bob Corker being the only Republican to vote against it. The new reform would lower tax rates for individuals through 2025 and cut the corporate tax rate to 20 percent. But this is not the part that bothers Puerto Rico in the current circumstances. A part of the reform bill...Read More
TWO MONTHS AFTER HURRICANE MARIA, PUERTO RICO IS STILL IN CRISIS Two months after Hurricane Maria, Puerto Rico is still facing urgent challenges https://t.co/ch88P173sR via @nbcnews — Manuel Garcia (@GarciaManny4) November 21, 2017 Last week marked two months since Hurricane Maria wrought havoc on Puerto Rico. Despite all recovery efforts and relief aid, the crisis is still far from being over. As of last Monday, electricity came back to less than a half of the islanders, cellphone service is at 65 percent working capacity, and there are still issues with the access to drinking water. Politicians and public figures...Read More
THE PROPOSED TAX REFORM BILL COULD BECOME ANOTHER DISASTER FOR PUERTO RICO Federal tax reform bill could suffocate Puerto Rico https://t.co/WYHS7gwaVR pic.twitter.com/vhO4iFPzSg — Noti Puerto Rico🇵🇷 (@Noti_PuertoRico) November 17, 2017 The recently approved US tax reform could result in the loss of nearly 250,000 jobs in Puerto Rico which is the last thing to allow after Hurricane Maria hit the islands. Under the tax reform provisions the Controlled Foreign Corporations in Puerto Rico will be classified as “foreign” for purposes of uniformly and will be imposed a 20 percent taxation rate on their earnings. This will most certainly drive...Read More
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