Representatives from 20 of Puerto Rico’s largest private-sector organizations expressed their willingness to work with the government’s task force on proposals to restructure the island’s fiscal issues.
The loss of Section 936 tax breaks, combined with overly indulgent local labor laws and a federal policy that encourages people to stay on the dole rather than work, have all contributed to Puerto Rico’s current fiscal nightmare.
During the opening day of its annual convention Thursday, the Puerto Rico Manufacturers Association delivered a list of recommendations — including cutbacks, government restructuring and fiscal measures — to administration officials, in hopes of doing its part to help the island pull out of its economic crisis.