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In Brief: Puerto Rico tax credit

This article was originally published in The Tan Sheet

Executive Summary

Puerto Rico tax credit: Legislation to expand Sec. 30a wage-credit provisions to be introduced by Sens. Alfonse D'Amato (R-N.Y.) and Patrick Moynihan (D-N.Y.), according to an April 14 "Dear Colleague" letter seeking co-sponsors for the measure. House Ways & Means/Trade Subcommittee Chairman Philip Crane (R-Ill.) is seeking backing for a similar measure in the House. Supporters suggest that the inclusion of tax cuts in the budget deal announced by Congress and the White House on May 2 could provide a hospitable environment for a re-examination of Sec. 30a and Puerto Rico tax incentives this session...
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