“Puerto Rico Jobs Are American Jobs”

By: Caribbean Journal Staff - February 14, 2012

Above: Puerto Rico Resident Commissioner Pedro Pierluisi (Photo: RC)

By the Caribbean Journal staff

The United States’ budget for 2013 includes Puerto Rico in several tax proposals put forward to strengthen the economy and create jobs, following a push by Puerto Rico Resident Commissioner Pedro Pierluisi and Governor Luis Fortuno.

“The Obama Administration has shown that it understands the needs of Puerto Rico and that it is receptive to our message that Puerto Rico jobs are American jobs,” Pierluisi said. “I will work with my colleagues in congress to seek their enactment into law.”

The decision to include Puerto Rico in the budget followed several weeks of efforts by Pierluisi and Fortuno, which included a visit to the White House and meetings with administration officials.

Last week, Pierluisi spoke with President Obama’s Senior Economic Advisor, Jason Furman. At the meeting, Furman pledged that Puerto Rico and other territories would be “fully and fairly included” in the administration’s tax proposals.

There were three relevant proposals unveiled yesterday, all of which treat Puerto Rico and the other US territories equally to the states, according to Pierluisi.

  • A new tax credit would give employers who increase wages for existing workers or hire new workers a tax credit of up to $500,000 per company.
  • A credit against income taxes for companies who move businesses to the US from abroad — equal to around 20 percent of expenses paid. Under this proposal, Puerto Rico would be considered part of the US.
  • A “Manufacturing Committee Tax Credit” to encourage investment in communities that have suffered substantial job losses.
Popular Posts

A.R. Carnegie, 74, Caribbean Legal Legend

A Caribbean Journal Editorial He was never a judge, never a Queen’s Counsel. His robes were never silk. But A. Ralph Carnegie was a Caribbean John Marshall if there ever was one. Ralph Carnegie, A.R. in scholarly texts, passed away […]

Robinson: Manatt Approached Government

Lackston Robinson, Jamaica’s Deputy Solicitor General, testified that it was the law firm Manatt, Phelps and Phillips, and not the Jamaican Government/Jamaica Labour Party, that made the first move to solicit a contract to lobby the White House, he told […]

IMF Back in Antigua on Performance Review

The International Monetary Fund has sent a team to Antigua for a third review of the nation’s performance on a stand-by arrangement with the IMF. According to the Ministry of Finance, the IMF team began the review Monday and will […]

Related Posts el patio de sam

Following Hunter S. Thompson in Puerto Rico

You won’t find much fear and loathing these days in Old San Juan, but there are places where you can still get a taste of the city where “gonzo journalist” and author Hunter S. Thompson decamped in his early 20s […]

Cancun Has a New Visitor Tax 

cancun has a new visitor tax

Cancun has been one of the hottest travel destinations in the hemisphere since the pandemic, and now the Mexican Caribbean tourism capital is making a major change for visitors.  Effective this month, Cancun is now charging all visitors an $18.80 […]

Puerto Rico Is Breaking Tourism Records

Puerto Rico Hotels coco beach

From hotel occupancy to new flights to cruise ship arrivals, Puerto Rico is breaking many of its tourism records, according to Carlos Mercado Santiago, the executive director of the Puerto Rico Tourism Company.  The destination’s numbers from the just-closed fiscal […]


Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.

No. Thank You