The US Army Corps of Engineers and the Puerto Rico Ports Authority will begin laying the groundwork later this year for improved maritime infrastructure at the San Juan Harbor that will eventually help lower energy costs and better the area’s environmental quality. In an interview with News is my Business, Ports Authority Executive Director Joel […]
Ports Authority Executive Director Ingrid C. Colberg-Rodríguez, announced Tuesday that the federal government has allocated $5.7 million for maintenance of commercial shipping and $700,000 to analyze the dredging the San Juan bay.
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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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