The Congressional Task Force on Economic Growth in Puerto Rico yesterday released its recommendations to lawmakers. Most importantly, the report acknowledged the need to implement tax policy that encourages and strengthens investment, jobs, and economic growth.
While legislation passed earlier this year by Congress addressed the short-term debt crisis of Puerto Rico, more needs to be done over the long term to ensure the island can recover and thrive. Moving forward, any solution to Puerto Rico’s economic woes must include permanent, pro-growth tax policies that encourage competition and investment as acknowledged in the report.