The recently passed Fedetal Tax Cuts and Jobs Act will have implications for Puerto Rico’s economic that will start to become more noticeable after fiscal year 2019, local research firm Estudios Técnicos Inc. predicted in an analysis released this week.
Representatives from Puerto Rico’s private sector agreed Monday to back Gov. Ricardo Rosselló’s urgent call to Congress to treat the island as a U.S. — not foreign — jurisdiction in the federal tax reform currently being discussed.
The draft bill of the U.S. tax reform being considered in Congress has the potential to “catastrophically impact” the island’s economy, jeopardizing more than 70,000 well- paid jobs and more than 35 percent of the Commonwealth’s budget, Puerto Rico Manufacturers Association President Rodrigo Masses warned Monday.
A Dow Jones/Factiva content provider since 2014
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