Puerto Rican fiscal crunch is approaching Congress

2015 ◽  
Keyword(s):  
Puerto Rico ◽  
Puerto Rican ◽  
Democratic Party ◽  
Corporate Tax ◽  
Tax System ◽  
Content Type ◽  
Working Age ◽  
Working Age Population

Significance Puerto Rico has suffered from an inability to service its debts, as its economy has been in or near recession since 2005. Its population has declined -- especially the working age population -- as residents, who are US citizens, have moved to the mainland to look for work. The governor has proposed an overhaul of the tax system in an attempt to raise revenues. Impacts Tax breaks for US companies operating in Puerto Rico may be part of a corporate tax overhaul. There is little prospect for such legislation this Congress, but a fiscal crunch could spur a separate bill. The Democratic party would probably split, as opposition to corporate tax breaks would clash with its Hispanic base.

Puerto Rican shutdown would increase default fears

2015 ◽  
Keyword(s):  
Puerto Rico ◽  
Puerto Rican ◽  
Content Type ◽  
Us Congress ◽  
Federal Intervention ◽  
Congressional Vote ◽  
General Obligation Bonds ◽  
General Obligation ◽  
The Us ◽  
The Government

Significance Puerto Rico is facing a severe fiscal crunch; its general obligation bonds are rated junk status and the government has said that a 2.9 billion dollar bond issuance -- at risk because of the congressional vote -- is required to prevent a shutdown in the next three months. Impacts There is little-to-no prospect of Puerto Rican statehood while Republicans control the US Congress. Puerto Rico would gain five representatives and two senators, likely to vote Democratic. However, this may encourage some Republicans to back federal intervention on debt, to ward off calls for statehood.

Default signals further slide for Puerto Rico in 2016

2016 ◽  
Keyword(s):  
United States ◽  
Puerto Rico ◽  
Puerto Rican ◽  
Public Services ◽  
Control Policy ◽  
Gun Control ◽  
Public Agencies ◽  
Content Type ◽  
Presidential Candidates ◽  
Puerto Rican Diaspora

Significance The island's government and public agencies hold 72 billion dollars of debt obligations, but migration to the mainland United States, political unwillingness to cut spending and constitutional difficulties have triggered a severe crisis. Federal US and Puerto Rican lawmakers are concerned that austerity-driven cuts to public services would only exacerbate the problems of the commonwealth. Impacts The Puerto Rican diaspora in Florida may punish Republicans at the ballot box in the event of federal inaction. Anti-gun-control policy 'riders' may scupper congressional efforts to aid Puerto Rico in March. Relief for Puerto Rico may become a vote-winning issue for Democratic presidential candidates in the party primaries.

Puerto Rican electricity plan will be of minor help

2015 ◽  
Keyword(s):  
Puerto Rico ◽  
Puerto Rican ◽  
Content Type

Headline PUERTO RICO: Electricity funding will be of minor help

Puerto Rican budget and statehood wrangles will worsen

2018 ◽  
Keyword(s):  
Puerto Rico ◽  
Puerto Rican ◽  
Policy Making ◽  
Economic Recovery ◽  
Foreign Investor ◽  
Control Board ◽  
Content Type ◽  
Investor Confidence ◽  
The Us

Significance Fiscal pressures are causing controversy in Puerto Rico, but so too is fiscal policy-making. On July 5, Governor Ricardo Rossello announced that he would seek a court injunction that would prevent the budget he has signed from being disallowed in favour of the nearly 9-billion-dollar budget devised by the US-based federal fiscal control board. Impacts Domestic and foreign investor confidence in Puerto Rico is likely to fall further, complicating economic recovery and reform. The episode will further damage Puerto Rican politicians’ credibility when they make representations to Washington. The polarisation over Puerto Rico’s long-term future, and the US statehood question, will deepen. Delays in repairing the island’s economy, and then reforming it for the future, could see worker outflows.

Puerto Rico control board will squeeze debt holdouts

2017 ◽  
Keyword(s):  
Puerto Rico ◽  
Puerto Rican ◽  
Status Quo ◽  
Control Board ◽  
Donald Trump ◽  
Content Type ◽  
Us History ◽  
Bright Spots ◽  
The Status ◽  
Pension Liabilities

Significance The announcement would mark the largest subnational bankruptcy in US history, with Puerto Rico facing debt obligations of 73 billion dollars from an array of public entities and 49 billion dollars of unfunded pension liabilities. Demonstrators on May 1 in the capital of San Juan criticised Puerto Rico Governor Ricardo Rossello’s administration, US lawmakers, the island’s federal fiscal control board and budgetary austerity. Impacts Mulled port improvements and electricity liberalisation reforms could offer some economic bright spots for Puerto Rico. A June referendum on Puerto Rico’s status is unlikely to clarify a path from the status quo as an indebted and unincorporated US territory. US President Donald Trump will oppose any congressional efforts to boost federal transfers to Puerto Rico. However, Democrats may attempt to secure greater funding in legislative negotiations to cater to urban expatriate Puerto Rican voters.

Automation alters Central-Eastern Europe growth needs

2019 ◽  
Keyword(s):  
Eastern Europe ◽  
Vocational Training ◽  
Job Market ◽  
Content Type ◽  
Future Of Work ◽  
Central Eastern Europe ◽  
Working Age ◽  
Working Age Population ◽  
Central Eastern

Subject Future of work in CEE economies. Significance The steady decline in the working-age population across Central-Eastern Europe (CEE) will create opportunities for a stronger technological shift towards automation, to which the job market has already started to adjust, especially in labour-intensive manufacturing. Impacts Employment will rise in services, which will assume an even greater share of GDP by 2030. Sustaining productivity will be more challenging after 2030, as the workforce ages and its size shrinks at a faster pace. Stronger investment into R&D and vocational training will be needed to improve competitiveness.

US demographic change will have broad economic effects

2022 ◽  
Keyword(s):  
Population Decline ◽  
Economic Effects ◽  
Living Standards ◽  
Participation Rates ◽  
Content Type ◽  
Us Economy ◽  
The Us ◽  
Working Age ◽  
Working Age Population ◽  
Spending Cuts

Significance This has implications for the size of the workforce and the living standards that the US economy is capable of supporting. It will also have broader consequences for the US economy over the next 30 years. Impacts Lower workforce participation rates will lower average living standards, relative to what they would have otherwise been, by 10% by 2050. Medicare and social security spending will rise by 4% of GDP over the next 30 years; higher taxes or spending cuts elsewhere will be needed. Immigration is projected to be just sufficient to offset natural population decline by 2050, cushioning the working-age population drop. Estimating the extent to which immigration and automation could help to fill worker shortages over the longer term is difficult.

Puerto Rican debt restructuring will see legal hurdles

2015 ◽  
Keyword(s):  
Puerto Rico ◽  
Puerto Rican ◽  
Turning Point ◽  
Spillover Effects ◽  
Structural Reform ◽  
Municipal Bond ◽  
Contagion Effect ◽  
Debt Restructuring ◽  
Content Type ◽  
Borrowing Costs

Significance The same day saw the release of a report, authored by former IMF economists, outlining a programme of structural reform and sweeping debt restructuring. Puerto Rico has seen its fiscal situation deteriorate for years, but with a series of debt repayments due in the next few days and the report, the crisis appears to be reaching a turning point. Impacts Tax-free municipal bond instruments are widely held by individuals, who will suffer from defaults. These investments are typically not leveraged, thus limiting the potential contagion effect of a default. Spillover effects could nonetheless raise the borrowing costs of the most vulnerable borrowers, such as Chicago.

scholarly journals Socioeconomic inequality and dental caries among Thai working age population

2019 ◽  
Vol 33 (6) ◽  
pp. 517-528
Author(s):  
Sirinthip Amornsuradech ◽  
Warangkana Vejvithee
Keyword(s):  
Health Outcome ◽  
Oral Health ◽  
Dental Caries ◽  
Dental Service ◽  
Cross Sectional ◽  
Content Type ◽  
Working Age ◽  
Lower Education ◽  
Working Age Population ◽  
The Relationship

Purpose The purpose of this paper is to determine the relationship between socioeconomic status (SES) and oral health among Thai adults. Design/methodology/approach This study is a cross-sectional analytical study using secondary data from the 7th Thailand National Oral Health Survey (2012). Age group 35–44 years old samples were used to represent the working age population. Oral health outcome was determined by untreated dental caries. SES was indicated by income, education and occupational groups. Demographic background, oral health-related behavior and access to dental service were adjusted for analysis. Binary logistic regression analysis was performed to determine the relationship between independent variables and oral health outcome. Findings People with lower education showed a higher odds ratio for having untreated dental caries before and after controlling for related variables. Those living in the north and northeast, using additional cleaning tools and going to the public provider for dental service also showed better oral health. Research limitations/implications The limitation of this study is that the cross-sectional study cannot indicate casual relationships. The national oral health survey was not designed to find relationships between factors. The access to data and measurement of SES was limited. The policy maker should emphasize on people with lower education which have a higher risk for dental caries to improve oral health in disadvantaged groups. Future research should include all related factors in the study including diet and knowledge about oral health. Moreover, oral health outcome is a long-term effect which accumulated through a lifetime. The social class might change over time and so do behaviors. Originality/value There is socioeconomic inequality in dental caries of Thai working age population.

Corporate tax in emerging countries: some aspects of India

2015 ◽  
Vol 57 (5) ◽  
pp. 357-366
Author(s):  
Reji George ◽  
Y V Reddy
Keyword(s):  
Global Economy ◽  
Emerging Countries ◽  
Primary Concern ◽  
Corporate Tax ◽  
Tax System ◽  
Content Type ◽  
Potential Source ◽  
Indian Context ◽  
Indirect Taxes ◽  
Practical Implications

Purpose – The purpose of this paper is to find out the corporate tax gaps in India and the possible reasons behind it. Design/methodology/approach – The objectives were achieved by looking at the existing tax system in the country, problems in the area of corporate taxation and the reasons for these problems. The authors also look at how we can address a few of these problems in comparison with other emerging countries. Findings – Emerging countries play an important role in the world economy. India is undeniably rising as an important and vital country, not only among emerging countries but also in the global economy. Tax environment in India is often seen as a complex system with the multiplicity of indirect taxes, overburdening litigations and lack of certainty. Tax policies can be an effective mechanism to promote investments, both international and domestic, which India needs in abundance. The existing high fiscal deficit in the country necessitates the need to make revenue increase a primary concern of tax policy in India. Although indirect taxes have become an important source of development funds in developing countries due to their wide coverage, we feel that corporate tax can become a potential source of revenue in the future. Practical implications – This paper should help in changing the way policy decisions relating to tax should be looked at. Originality/value – Studies in the Indian context are limited. This paper should be of some use to those intending to understand the tax system, especially with reference to corporate taxes in India.

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