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105th Congress
2d Session
H.R. 4769
To require the Secretary of the Treasury to prepare a report on the
current Federal program costs, and Federal revenues, attributable to the
Commonwealth of Puerto Rico and on other matters relating to the taxation
of residents of the Commonwealth of Puerto Rico.
IN THE HOUSE OF REPRESENTATIVES
October 9, 1998
Mr. ENGLISH of Pennsylvania introduced the following bill, which was
referred to the Committee on Ways and Means
A BILL
To require the Secretary of the Treasury to prepare a report on the
current Federal program costs, and Federal revenues, attributable to the
Commonwealth of Puerto Rico and on other matters relating to the taxation
of residents of the Commonwealth of Puerto Rico.
Be in enacted by the Senate and House of Representatives of the
United States of America, in Congress assembled,
SECTION 1. FISCAL EQUITY AND RESPONSIBILITY FOR PUERTO RICO
The Secretary of the Treasury shall prepare and submit to Congress a
report which includes detailed information with respect to -
- the cost of all current Federal programs, services, benefits, entitlements
and activities in the Commonwealth of Puerto Rico, separately indicating
the cost of each major category of Federal spending;
- all revenues received into the Federal Treasury collected in or attributable
to the Commonwealth of Puerto Rico;
- the reliability and efficiency of current financial management and
budget execution processes involving transactions between Federal and Commonwealth
of Puerto Rico fiscal systems;
- measures which would be necessary or recommended in the event Congress
determines to introduce and phase in over a period of years Federal taxation
for residents of the Commonwealth of Puerto Rico on the same basis as in
the States of the Union, as well as the application of all additional forms
of Federal corporate taxation on the same basis as in the States of the
Union;
- the operation of the current system of taxation in the Commonwealth
of Puerto Rico under local law, including historical and current levels
of revenue and allocation of such revenues under local law, as well as
adjustments in local tax law and policy which would be necessary or appropriate
in order to facilitate introduction of Federal taxation in the event Congress
determines that integration of the Commonwealth of Puerto Rico into the
Federal system is in the national interest; and
- possible alternative forms of Federal taxation which would result in
the collection by the Internal Revenue Service from individuals and corporations
in the Commonwealth of Puerto Rico of revenues which after a reasonable
transition period will equal or exceed the annual costs of the Federal
Government in the Commonwealth of Puerto Rico, including recommendations
regarding the feasibility of a gradual phase-in of Federal taxes proportional
to levels of income and Federal spending in the Commonwealth of Puerto
Rico relative to the nation as a whole.
CLICK HERE for Bill HR 4766
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San Juan Star
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