The Biden administration and Puerto Rico Governor Pedro Pierluisi reached a deal on Wednesday to revamp the U.S. territory’s outdated electric grid and move it towards renewable energy, securing over $12 billion in federal recovery funds, Reuters reported. Three federal agencies — the U.S.
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Pay raises for teachers, firefighters, corrections officers and other employees were included in a revised fiscal plan approved Thursday that will serve as Puerto Rico’s economic blueprint criticized by some as the island emerges from bankruptcy, the Associated Press reported. A federal control board that oversees the U.S.
Puerto Rico can avoid budget deficits for the next quarter century because federal funds will help boost economic growth on the island as it exits bankruptcy, the commonwealth’s congressionally appointed financial oversight board said, Bloomberg News reported.
Over the past two years, every building but one that Margarita Gandia’s real-estate agency sold in Old San Juan went to a U.S. mainlander or a foreign buyer. Every purchaser cited Puerto Rico’s generous tax breaks as the reason for the move, Bloomberg News reported.
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This wiki is a repository for members of the U.S. Congress, other policy makers, academics, investors, the media and the general public to understand the challenges facing Puerto Rico in 2016 and to provide data and information to begin crafting long term sustainable solutions. Click here to view.