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Residents of Puerto Rico are required to pay most types of federal taxes. Specifically, residents of Puerto Rico pay customs taxes, [5] [6] [c] Federal commodity taxes, [6] and all payroll taxes (also known as FICA taxes, which include (a) Social Security, [8] (b) Medicare, [9] and Unemployment taxes). Puerto Ricans on the island paid over $4 ...
Puerto Rican business leaders, scholars, teachers, performing artists, and activists have led protests against La Junta. [12] In July 2019, hundreds of thousands of people rallied in the streets of San Juan to chants for Governor Ricardo Rosselló to "resign and take the "junta" with you."
The Puerto Rican government-debt crisis was a financial crisis affecting the government of Puerto Rico. [a] The crisis began in 2014 when three major credit agencies downgraded several bond issues by Puerto Rico to "junk status" after the government was unable to demonstrate that it could pay its debt. The downgrades, in turn, prevented the ...
Puerto Ricans could move a step closer to a referendum on whether the island should become a U.S. state, an independent country or have another type of government when the House of Representatives ...
SAN JUAN, Puerto Rico (AP) — Dozens of municipalities and public corporations in Puerto Rico have failed to pay or deposit a total of $340 million into a retirement system for government ...
This became evident in 2015 during the Obama administration, when Puerto Rico said it was unable to pay its $70 billion public debt, prompting Congress to create the 2016 Promesa law, because U.S ...
For practical reasons the budget is divided into two aspects: a "general budget" which comprises the assignments funded exclusively by the Department of Treasury of Puerto Rico, and the "consolidated budget" which comprises the assignments funded by the general budget, by Puerto Rico's government-owned corporations, by revenue expected from loans, by the sale of government bonds, by subsidies ...
The Puerto Rico Department of Treasury (Spanish: Departamento de Hacienda de Puerto Rico) is the executive department of the government of Puerto Rico responsible for the treasury of the U.S. Commonwealth of Puerto Rico. It is one of the constitutionally-created executive departments and is headed by a Secretary. [1]