Political Quotes

“I am pleased to state, on behalf of Senators Breaux, Graham, Kerrey, Chafee, and myself, that none of the tax relief measures and growth incentives contained in this tax bill will have a positive impact on the 3.8 million American citizens of Puerto Rico. This result is unfair and should be corrected. The Island's economy has paid dearly as a result of provisions in the tax bills of 1993 and 1996, as revenue offsets from Puerto Rico in those bills exceed $14 billion in the next few years. Yet those bills provided no benefits to our Puerto Rican citizens. Members from both sides of the aisle, Governors, national organizations, business associations, Hispanic-American groups and the entire Puerto Rican political community, have united forces in seeking a sensible Federal economic development tool in section 30A. This would provide viable pro growth tax incentives which will keep the Puerto Rican economy on a path of sustained growth. We should expand and extend this economic activity credit which is wage-based and promoted jobs and investment. We would urge my colleagues to correct this unfairness in Conference.”