ROUNDUP: Luis Davila Colon & Gil Hall Discuss Recent News & Events in Puerto Rico

by Gil Hall

Published: 20160524 1033

In this week’s round-up show, Luis Davila Colon and Gil Hall discuss and analyze recent events in Puerto Rico.

Topics include:

  • The status of the PR bill that would transition the sales tax (IVU) to a VAT (IVA) in addition to raising the B2B tax.
  • The second draft of the US House’s “PROMESA” bill came out last week. Davila Colon explains why he thinks a control board is the wrong approach. A control board, he says, would bring about social unrest and would not accomplish what needs to be done.
  • We discuss how PR does not understand the US Congress and vice versa–which has yielded sub-optimal federal and ELA policies.
  • Davila Colon frames many of the PR #muniland events of the last three years as the “biggest financial fraud in the history of the United States.”  There has been “a pattern of disturbing news that pointed towards a conspiracy to defraud … bondholders and to defraud Congress.”
  • Davila Colon: PR should begin to pay federal taxes if it wants to receive more benefits from Congress.
  • Davila Colon says the $2-3 billion in accounts payable is “hocus pocus”, and a part of the fraud.

About Gil Hall

Currently writing book on PR crises. Working title: "Los Pertrechos: the Story of an Economy". Polyglot prone to prolixity in English, German &, Spanish. Based between San Juan and North Carolina. MBA/MHA.