Basing the future of Puerto Rico’s economy on an uncontrollable factor, such as an amendment of the U.S. tax code, is not the safest route to take to achieve growth and is not the “silver bullet” the island needs to secure long-term stability, Sergio Marxuach, public policy director of the Center for the New Economy, said Thursday.
Representatives from more than a dozen labor unions and the private sector met with Resident Commissioner Pedro Pierluisi Thursday to outline strategies to defend the Puerto Rico Investment Promotion Act and the American Jobs Act, both of which they claim could spur economic development for the island.
Resident Commissioner Pedro Pierluisi introduced Thursday the Puerto Rico Investment Promotion Act, which seeks an amendment to the U.S. Internal Revenue Code to open the door for job creation and strengthening the island’s economy.
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