Jenniffer González: Puerto Rico Needs Federal Incentive Proposal that Creates Jobs
New Progressive Party (NPP) Resident Commissioner candidate Jenniffer González reiterated she would only support federal incentive proposals that are tied to job creations in Puerto Rico, and that is why she is elaborating an incentive proposal she deemed beneficial for everyone in Puerto Rico, and more attune to the alternatives Congress is willing to consider.
“Precisely for being a colony and not being participants in any pact as improved-Commonwealth defenders claim, Puerto Rico needs a federal incentive that lures and retains necessary investments for the island’s economy to overcome its current economic crisis,” wrote González.
She maintained manufacture represents around 50 percent of Puerto Rico’s Gross Product, a robust sector in the economy, with large potential for quick growth, thus having a positive impact in the local economy.
However, she lamented that negotiations costs in Puerto Rico are higher than in other foreign jurisdictions that compete for the same type of manufacture, arguing that a federal incentives linked to job creations would make the island more inviting for businesses.
“It is curious to see how the Popular Democratic Party (PDP) wants to blame [NPP gubernatorial candidate Ricardo Rosselló] and I for the federal derogation of the 936 corporate tax incentive over 20 years ago when we were both college students. That demagogy and lack of seriousness in arguments prove there is no depth in the arguments,” expressed González, saying the PDP repeats the same arguments instead of looking for alternatives that are viable in Congress.
The resident commissioner candidate explained that this type of requested incentive can’t have the same structure from the extinct Section 936 that Congress discarded, with both Democrat and Republican opposition.
“The high cost to the federal treasury and the low correlation to job creations were the determining factors for its elimination, not because I say so, that is what the members of Congress say,” asserted González as she maintained that Puerto Rico must join efforts to push for alternatives that prompt the economy, instead of holding on to the past.
While her PDP counterpart, Héctor Ferrer, insisted that eliminating Puerto Rico from Section 936 in the Internal Revenue Code forced erroneous decisions based on ideological fanaticism, González reaffirmed that from her conversations and the public expressions made in Congress, it is inferred that there is no place in Congress to approve incentive measures that follow the model from Section 936.