The government’s attempt to overhaul Puerto Rico’s tax code into an easy-to-monitor regime “adds yet another layer of complexity” to the island’s already complicated situation.
The Puerto Rico Economists Association urged the implementation of at least five measures at the federal level that they consider essential to successfully overcome the island’s current economic crisis and spur economic growth in the long term.
Economists from Boston-based Reeve & Associates and San Juan-based Estudios Técnicos Inc. released a joint report, “The Impact of the Jones Act on Puerto Rico,” that concluded the Jones Act has no impact on either retail prices or the cost of living in Puerto Rico.