Tags: puerto rico | ricardo rossello | tax bill | marco rubio

Puerto Rico Gov. Rips 'Devastating' GOP Tax Bill

Image: Puerto Rico Gov. Rips 'Devastating' GOP Tax Bill
Governor Ricardo Rossello of Puerto Rico. (Photo by Kevin Dietsch-Pool/Getty Images)
 

By    |   Saturday, 16 December 2017 03:20 PM

Puerto Rico Gov. Ricardo Rossello slammed the final version of the Republican tax plan, charging legislators with "levying a full tax" on the island as it rebuilds from Hurricane Maria.

"It is devastating and unconscionable that Congress would do this at this juncture," Rossello told NBC News on Friday in an interview.

The tax plan, which was unveiled earlier Friday, includes a 10 percent tax on corporate profits abroad, along with a 12.5 percent tax on "intangible assets" held offshore, the governor said.

"They are treating Puerto Rico as a foreign jurisdiction so they are levying a full tax," Rossello said.

Maria struck the island in September — though Puerto Rico's economy has long suffered — causing widespread infrastructure damage and leading many residents to flee to the U.S. mainland.

Rossello told NBC that legislators, who once pledged to help rebuild the island, had "turned a blind eye to the issue."

He also bashed Florida Sen. Marco Rubio's decision to support the tax plan after lawmakers agreed to expand the child tax credit under the legislation.

"It is a devastating blow to the people of Puerto Rico," Rossello said. "Senator Rubio seemed to understand what it meant that it had a severe impact on Puerto Rico.

"So, it is disappointing."

The House is expected to vote on the tax bill Tuesday, with the Senate following shortly thereafter.

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Puerto Rico Gov. Ricardo Rossello slammed the final version of the Republican tax plan, charging legislators with "levying a full tax" on island as it rebuilds from Hurricane Maria.
puerto rico, ricardo rossello, tax bill, marco rubio
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2017-20-16
Saturday, 16 December 2017 03:20 PM
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