Puerto Rican Independence: The Economic Implications for the
U.S. and Puerto Rico
United States
The Independence option for Puerto Rico offers finite benefits to the U.S.
in the eventual reduction of federal transfers, but it poses enormous potential
risks...and possibly significant bail-out costs in the event of political
or economic crisis.
Puerto Rico
With a voice in its future, an independent Puerto Rico presents the promise
of new growth. However, as a result of normal investor behavior and the
aspirations and needs of its citizens, the costs of independence would be
staggering. |
It is the sense of the Senate that--
(1) the Senate supports and recognizes the right of United States citizens
residing in Puerto Rico to express democratically their views regarding
their future political status through a referendum or other public forum,
and to communicate those views to the President and Congress; and
(2) the Federal Government should review any such communication.
"It Is Clear That We Cannot Continue
With The Status Quo. A Decision Is Going To Have To Be Made Soon As To What
The Permanent Political Status Of Puerto Rico Will Be. The Sense of the Senate Resolution proclaims that the ultimate
decision as to the political future of Puerto Rico will be made by this
Congress." Senator Frank Murkowski (R-AK)
The time is long overdue for Puerto Ricans to decide
if they want Puerto Rico to become the 51st state, to become independent
or to continue a commonwealth relationship with the United States. The Puerto
Rico plebiscite must take place now, not in some distant year. -Sarah Rivera-Scott,
The Washington Post
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Puerto Rico and US First Ladies Plant Trees as part of Hurricane
Georges' Recovery Efforts. Hillary Rodham Clinton Assures Puerto Ricans
that Billions of Dollars in Federal Emergency Relief Aid Is On the Way.
The tax would be replaced by a smaller consumer sales
tax. For Puerto Rican consumers...a sales tax represents a jarring change.
And therein lie the issue's politics.
Mr. Rossello's New Progressive Party, which favors statehood
for the island of 3.8 million people, generally seeks to mold local laws
to the U.S. model, and thereby eliminate legal obstacles toward its political
goal. Robert Walzer, Journal of Commerce.
– HERALD WHITE PAPERS –
The record before Congress is now
clear that permanent union and irrevocable U.S. citizenship can not be obtained
through commonwealth, even if it is reformed as proposed in the 1993 commonwealth
definition. Since only statehood provides the constitutionally guaranteed
status and citizenship included in the commonwealth definition, the real
question arising from the 1993 referendum results is how those who voted
for commonwealth with permanent union and irrevocable U.S. citizenship intend
to achieve that result if not through statehood.
"We will be repeating the mistakes
of 1952 if we do not inform the people of Puerto Rico that individual U.S.
citizenship is protected under commonwealth for the individual to whom it
is already granted against arbitrary loss, regulation or restriction, but
that the conferral of U.S. citizenship in the future is discretionary and
could be withdrawn."
Recent Commentary from Puerto
Rico
Miriam Ramirez de Ferrer, Neftali Fuster, Guillermo Moscoso,
Robert Becker
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