Obama’s Secret $6 Billion Bailout for Puerto Rico?
The Obama administration is eying a secretive tax deal critics charge is an indirect bailout for Puerto Rico to the tune of billions of taxpayer dollars.
The U.S. territory, desperate for revenues in the midst of the recession, surprised industry with a $6 billion tax on foreign firms - including a significant bloc of U.S. pharmaceutical firms - Oct. 22 in a rare weekend legislative session without any public debate in advance.
But now U.S. taxpayers, not the firms, could end up footing at least a significant chunk of the bill.
from Fox Nation.
Don Dees asks:
"What? Why is this the first I've heard of this? And why can't find out a damn thing about this law coming out of La Forteleza?"Oh I'm sure with FoxNews this will get totally fair and balanced coverage ensuring it to be popular with most mainlanders. Not! But if Fortuño can pull this off, expect a second term from Milhouse!