Months Later, Puerto Rico Still Struggling

Money Talking | Dec 22, 2017

Three months after Hurricane Maria devastated Puerto Rico, the commonwealth is still struggling to restore power and provide fresh water to all of its residents. Conditions have forced thousands to leave for the mainland in search of better opportunities.

The storm hit after years of economic hardship and a record $74 billion bankruptcy, the largest municipal bankruptcy in U.S. history.

Now, Puerto Rico faces another challenge: the Republican tax plan which would levy a 12.5 percent tax on income from intellectual property earned on the island by companies based on the mainland. That could effect decisions by companies about whether or not to base operations — and hire workers — on Puerto Rico.

This week on Money Talking, Charlie Herman speaks with Rebecca Spalding, a reporter with Bloomberg, and Alana Casanova-Burgess, a producer with WNYC's On The Media, who have both been reporting about Puerto Rico. (You can also find Casanova-Burgess' reports from the island on OTM's latest episode “After the Storm.")

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