Sunday, November 17, 2019

Puerto Rico Senate president hopeful of agreement on Tax Reform

By on October 29, 2018

SAN JUAN – The president of Puerto Rico’s Senate, Thomas Rivera Schatz, said Monday that despite some differences, he hopes an agreement will be reached and a tax reform that aligns with the fiscal plan and the budget certified by the fiscal oversight board will be achieved.

“In the vast majority of things, I think we agree. There will be important details that we do not agree with, but I do not expect there to be major difficulties,” Rivera Schatz told the press. “The most fundamental aspects or the majority of aspects are in tune. What we have to look at are particular details. For me, a priority was Police pensions, the funds for the municipalities and to see how it is possible to harmonize all that in a scenario that is reliable, that does not endanger the fiscal plan or budget, or any issue that is being handled by the government.”

“I’m convinced that can be done [reach an agreement],” he added.

Rivera Schatz made his remarks Monday before meeting with Gov. Ricardo Rosselló and House Speaker Carlos “Johnny” Méndez at La Fortaleza

In relation to the Incentives Code, the Senate president said that, as part of Tax Reform, establishing caps to certain incentives without having to address the Incentive Code bill separately, has been contemplated.

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