Puerto Rico: Tax Hikes and Slashed Public Services

2015-08-06 1

The government has decided to adopt austerity measures following default on its US$72 billion dollar debt. Puerto Rico will increase its sales tax from 6% to 11.5%. Public services will also be reduced. Many shops in San Juan have already closed due to the crisis. The United States has refused to transfer funds necessary to lessen the impact of the budgetary deficit. teleSUR

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