San Juan Mayor offers 4 Alternatives to Creation of Fiscal Control Board
SAN JUAN – San Juan Mayor Carmen Yulín Cruz presented four options that the United States could use instead of creating a fiscal control board to confront the crisis Puerto Rico faces for not being able to pay the government’s debt, which amounts to some $70 billion.
“If the United States wants to do something – and it must do something for Puerto Rico – there are four things it should do immediately,” Cruz told reporters during her participation in the inauguration Saturday of the new Sparta Club for olympic wrestling training.
She first mentioned that the United States must “return the 936’s [Section 936 of the U.S. Internal Revenue Code, which gives mainland U.S. companies an exemption from federal taxes on income earned on the island] to Puerto Rico, begin the immediate process of eliminating cabotage laws that raise the cost of living for Puerto Ricans and forces Puerto Ricans to use the merchant marine of the United States.”
She continued on the subject, proposing that “[that the U.S. Congress] provide access to bankruptcy [protections] to restructure Puerto Rico’s debt. After all, that mechanism could be used until 1984.
“And fourth, which is the basis of what is going on, a great dose of responsibility would be to start the process of decolonization and self-determination of Puerto Ricans,” she added.
The mayor said, “I think that to accept a control board or a supervisory board is to tell the world that it can’t be done in Puerto Rico, and it can be done in Puerto Rico.”