Tuesday, November 29, 2022

Sen. López presents economic platform for San Juan

By on September 2, 2020

Popular Democratic Party mayoral candidate Sen. Rossana López León (Courtesy)

Vows to get tax on inventories repealed in bid to become capital’s mayor

SAN JUAN — The candidate for mayor of San Juan for the Popular Democratic Party (PDP), Sen. Rossana López León, assured during the presentation Wednesday of her economic recovery plan platform, that if elected, she would seek, starting in January, the elimination of the inventory tax in the capital.

She explained that her recovery program is framed by six main themes based on the pressing needs of the economic ecosystem of the capital and its interaction with the rest of the municipalities and the central government.

It highlights the elimination of the inventory tax, which the business community has repeatedly called for, but has faced much resistance from many mayors of both parties who warn that the municipal coffers would be seriously affected if the inventory tax were eliminated.

López stressed that her economic development plan for San Juan was the product of months of meetings and conversations with entrepreneurs, business people, citizens and trade groups, among other sectors. For this reason, she proposed creating an economic development advisory body at the beginning of her administration, which would be in charge of identifying concrete actions to promote her economic development strategies.

“What we present to the voters of San Juan today is the product of an intense analysis of the reality that we have today and how we can boost the economy of the capital with the resources we have in the municipality, in close coordination with private companies. and non-profit organizations,” the senator said.

When asked how she intends to replace the loss of revenue from that tax that the municipality would lose, the mayoral candidate explained that the commercial sector and her administration would bet on the plan designed jointly by the main entities that comprise commerce in Puerto Rico to solve the liquidity issue.

“This is something that has been brought to light by the Chamber of Commerce, the Society of Public Accountants, wholesalers, manufacturers, the Community Pharmacy Association, and certainly all the data evaluated by economists have indicated that there are projections of increased collection revenue and warehouses and sale of license fees. Obviously, with more storage, the quantity of products on the aisles improves,” explained López.

“Right now, we are at 30 percent and we can go up to 42 percent; that is aimed at selling more products for more patents and therefore more warehouses, because one of the problems we have in San Juan is security in case emergency. In Puerto Rico, there is only one week of supplies after a catastrophic event,” she added.

López said that, if elected, she will focus on the implementation of what she called a “strategic action plan that will promote the economic development of the Capital City,” although, from a health perspective, the mayoral hopeful admitted that the number of challenges a task of this magnitude amid a pandemic that has decimated hundreds of economies worldwide will be substantial.

“The economic development of San Juan is a matter that touches all of us directly. We have to be able to maintain existing jobs, to generate new jobs, to generate greater economic activity, so that you and yours can enjoy better services and a better quality of life,” the lawmaker said.

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