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Serrano: Plebiscite an “Earthquake” in Puerto Rican Politics

Puerto Rican born U.S. Congressman José E. Serrano (D-NY), has issued a statement regarding the November 6th plebiscite in Puerto Rico.  In comments analyzing the 2012 national election results generally, Rep. Serrano made special mention of the outcome of Puerto Rico’s forth plebiscite since becoming a territory of the United States in 1898:

“I was particularly impressed with the outcome of the ‘status’ referendum in Puerto Rico. A majority of those voting signaled the desire to change the current territorial status. In a second question an even larger majority asked to become a state. This is an earthquake in Puerto Rican politics. It will demand the attention of Congress, and a definitive answer to the Puerto Rican request for change. This is a history-making moment where voters asked to move forward.”Read More »Serrano: Plebiscite an “Earthquake” in Puerto Rican Politics

Puerto Ricans Vote for Statehood

A solid majority of Puerto Ricans have voted to end the island’s 114-year old relationship as a territory of the United States and become the nation’s 51st state.  When asked whether Puerto Rico should “continue to have its present form of territorial status,”  54% of all voters (934,238 people) answered “no” while only 46% (796,007) responded “yes.” Read More »Puerto Ricans Vote for Statehood

New Market Tax Credits — Not in Puerto Rico

The New Markets Tax Credit (NMTC) Program, part of the 2000 Community Renewal Tax Relief Act, was designed to encourage investment in Community Development Entities (CDE) in low-income areas. The thinking was that companies not normally interested in investing in depressed communities would do so with the tax credit, which covers 39% of the investments made. Not only do NMTC projects bring capital into poor neighborhoods, but they also create jobs for local residents.Read More »New Market Tax Credits — Not in Puerto Rico