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Governor of Puerto Rico and governor-elect of New Jersey oppose federal tax reform

Governor of Puerto Rico and governor-elect of New Jersey oppose federal tax reform

(December 15, 2017 -La Fortaleza, San Juan) The Governor-elect of New Jersey, Phil Murphy, visited the Island today with the purpose of collaborating with the governor of Puerto Rico, Ricardo Rosselló, in the recovery efforts of the Island after the passage of Hurricane Maria; as well as raising a firm voice against the federal tax reform that will be approved by the United States Congress.

"Congress is being inconsistent and the leadership has demonstrated hypocrisy," stated Rosselló, recalling that the federal PROMESA Act approved by Congress in 2016 is aimed to direct the economic development and fiscal sustainability of the Island.

As the chief executive of Puerto Rico explained, this is the worst moment in the economy of the Island, after the passage of hurricanes Irma and Maria, and Congress did not take any of these considerations into account in the federal tax reform bill.

“Right now, we are faced with a devastating tax reform that will significantly hinder 50% of our economy, impacting perhaps 250,000 jobs, and being a limitation to 30% of our budget in Puerto Rico. We strongly oppose this bill, it is a direct action that severely hampers our economy”, stated Rosselló.

For his part, governor-elect Murphy also affirmed his rejection of the bill and expressed his support for governor Rosselló.

“I thought there was no place in America that would be harder hit by this awful, proposed tax plan until I started to study what it would do to Puerto Rico,” pointed out the governor-elect.

Murphy also added that “we need to find a sensible, stable fiscal reality for Puerto Rico and you can’t do that alone, you need help. We will keep screaming out not just about the recovery in Puerto Rico, but we are going to keep screaming out about the fact that you need help to stabilize the finances here.”

Governor-elect Murphy indicated that there are two issues of importance to Puerto Rico: one of them is to seek the rejection of senators to the bill on tax reform—which also affects states like New Jersey, New York, and California, among others—and the other is to achieve the recovery funds for Puerto Rico in a fair and equitable manner.

"And I say fair and equitable because we know that our brothers and sisters in Florida and Texas need help, but here we need as much help, if not more, than they need. And it must be fast and equitable" said the governor-elect of New Jersey.

Governor-elect Murphy arrived in San Juan today with his wife and a delegation that will visit a hospital and a shelter. In addition, he will meet with the leadership of the Federal Emergency Management Agency (FEMA) to discuss collaborative action plans.

Portal sometido ante la CEE el 28 de diciembre de 2015: Solicitud CEE-SA-16-2859