High-ranking government officials tout P.R. austerity measures at NLGA conference
July 28, 2011
The austerity measures put in place over the past two years have reduced Puerto Rico’s deficit and spurred economic growth, Gov. Luis Fortuño and his Economic Development and Commerce chief said in separate speeches offered on Wednesday’s session of the National Leutenant Governors Association convention taking place in San Juan.
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Obama signs disaster declaration for 12 towns
July 14, 2011
President Barack Obama signed Thursday an order declaring 12 towns as disaster areas, following severe storms, flooding, mudslides, and landslides during the period of May 20 to June 8, 2011. The order makes it possible for Puerto Rico to receive federal aid to supplement the expenses incurred by the central and municipal governments.
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CRIM opens 90-day property tax amnesty
July 14, 2011
roperty owners who are in arrears on their tax payments to the Municipal Collections Center have until Oct. 11 to take advantage of a temporary amnesty that grants the full elimination of interest, penalties and charges over the debt.
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General fund revenue collections top $8.1B in fiscal ’11, companies account for 10% of total
July 13, 2011
Foreign and non-resident companies doing business in Puerto Rico accounted for 10 percent of fiscal 2011’s General Fund collections, which reached more than $8.1 billion, preliminary results offered Wednesday show.
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IVU, Law 154 boost Treasury collections in May
July 5, 2011
General fund collections reached $625 million in May, representing an increase of $88 million, or 16.4 percent when compared to the same month in 2010, the Treasury Department said Monday.
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Fortuño signing Housing Stimulus program extension today
July 5, 2011
Gov. Luis Fortuño will be signing a six-month extension to the 2011 Housing Stimulus law today, giving would-be homebuyers the chance to take advantage of exemptions on closing costs and taxes.
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Voluntary tax amnesty ends June 30
June 29, 2011
With just two days left until the end of the government’s 2011 fiscal year, Treasury Secretary Jesús Méndez on Tuesday urged citizens and corporations that have not reported income received from legal sources to do so without penalty through the agency’s Voluntary Declaration Program that ends June 30.
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Highways concession contract inked, Abertis vows to repave 25% of PR-22 in 3 years
June 28, 2011
Over the next three years, two Puerto Rico highways will undergo a $56 million facelift en route to becoming world-class roads, so said the new private-sector consortium of Goldman Sachs Infrastructure Partners/Abertis, upon signing a 40-year management contract with the government at La Fortaleza Monday.
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Highest-ranked Puerto Rican federal transportation official touts benefits of PPPs
June 27, 2011
Saying the private sector is as responsible as the government for ensuring that transportation infrastructure is in good shape, Orlando Gotay, the highest-ranked Puerto Rican in the U.S. Department of Transportation, urged “more action and participation” from them, as well as regular citizens, in the decision-making process to address Puerto Rico’s present and future needs.
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Pierluisi lauds passage of bill overhauling federal patent law
June 25, 2011
A bi-partisan Congressional bill proposing sweeping changes of the America Invents Act, which regulates patents, was passed by the House Friday with amendments submitted by Resident Commissioner in Washington, Pedro Pierluisi to benefit Puerto Rico.
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$1.4B highway PPP contract awarded to Goldman Sachs/Abertis consortium
June 20, 2011
The Gov. Luis Fortuño administration announced Monday its decision to turn over the management and upkeep of two island highways, PR-22 and PR-5, to the consortium of Goldman Sachs and Abertis, through a 40-year contract worth more than $1.4 billion.
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Highway PPP to be announced June 20
June 17, 2011
Following a lengthy evaluation process, the government will announce Monday the winner of the concession to manage one of the island’s principal highways, and a secondary road, Puerto Rico Public-Private Partnerships Authority Executive Director David Álvarez told a small group of journalists Thursday.
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McClintock advocates for elimination of trade barriers
June 16, 2011
How many times has it happened that you excitedly find a store online selling that one item you have been coveting or needing, only to discover that when you’re ready to pay for your order, you’re shot down by a message saying “we do not ship to Puerto Rico.”
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P.R. must focus on specific areas, services to boost competitiveness
June 15, 2011
U.S. Under Secretary of Commerce Francisco Sánchez urged Puerto Rico Wednesday to take advantage of the recently formed U.S. Corporation for Travel Promotion, which has $200 million to market the mainland and its jurisdictions on a global scale.
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Private sector: Obama’s visit ‘positive, good starting point for economic recovery’
June 15, 2011
President Barack Obama’s visit to Puerto Rico drew a slew of positive feedback from a handful of private-sector executives invited to his welcoming Tuesday, with most concurring that the historic event was positive and could result in long-term benefits.
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