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Ramon Perez Blanco

Michelle Kantrow August 24, 2023
Author Ramón Pérez-Blanco is president of the Puerto Rico Chamber of Commerce.

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QUOTE OF THE WEEK:

“In an economic context where Puerto Rico is experiencing a clear slowdown and where key sectors like construction are struggling to find workers, cutting the [Earned Income Tax Credit (EITC)] will discourage participation in the formal economy and hinder our economic growth.

 

In an environment where federal funds are decreasing, adding local austerity through EITC cuts could not only cause our labor force participation rate to drop again, but also force local businesses to absorb much of the reduction if they want to maintain the current incentives for formal employment and prevent part of their workforce from returning to the informal sector.”

 

— Daniel Santamaría-Ots, co-executive director, Espacios Abiertos

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