Posts Tagged ‘Anne O Krueger’

The state of Puerto Rico, economic state, that is


For some thirty years, under Section 936 of the US tax code, the economy of Puerto Rico had benefited substantially from the influx of US corporations. While the US Congress would repeal Section 936 in August 1996, corporations would be granted a ‘breather’, a continuance of tax benefits for another ten years, expiring in 2005. That repeal of Section 936 was encouraged by the Commonwealth’s then Governor Rossello in the mistaken belief that the US Congress would promptly grant the dependency statehood.

The expiration of Section 936 would see the prompt flight of the corporations from the island to more lucrative destinations. (more…)