Puerto Rico Fears That Tax Overhaul Could Harm Hurricane Recovery
(World News USA)

A Puerto Rican official said that the current plan to overhaul the U.S. tax system has potential to devastate the already bankrupt U.S. territory`s ability to collect desperately needed revenues to help with the ongoing recovery efforts after Hurricane Maria, according to Reuters. Francisco Pares, an assistant secretary in Puerto Rico`s treasury department, said that the tax plan that was approved by the U.S. Senate could gradually erode `approximately a third of the total revenues Puerto Rico earns through its tax system.` Pares was speaking at a New York meeting of Puerto Rico`s federal financial oversight board when he described how local government leaders were trying to reach...