The Rum Tax and Puerto Rico
Reports on the “Fiscal Cliff Bill” are finding humor in some of the provisions, including the extension of the cover-over subsidies on rum from Puerto Rico and the U.S. Virgin Islands. Some are reporting this as “a new tax” or a “rum subsidy,” and the Washington Post described it as one “of the more curious tax provisions,”saying, “Most of that money is transferred to Puerto Rico and the Virgin Islands, who use the revenue to support their rum industries.”Read More »The Rum Tax and Puerto Rico