Three US House members are renewing a call to end a decade-old program offering substantial tax breaks to wealthy investors who relocate to Puerto Rico, introducing a congressional resolution to “swiftly address” what they called millions in lost revenue.
Rep. Delia C. Ramirez (D-Ill.) will announce the resolution—co-led by New York Democrats Nydia Velázquez and Alexandria Ocasio-Cortez—in Chicago on Thursday to address the impact of Act 22, a controversial tax incentive that attracts affluent individuals to the island by allowing them to avoid federal income tax.
The law is currently the subject of an report by ...
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