Puerto Rico Governor Weighs Raising Taxes for Highway Agency
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Puerto Rico Governor Alejandro Garcia Padilla is considering raising taxes on oil products and increasing license fees on luxury cars to support $2.2 billion of planned borrowing this year that will help shore up the island’s highway authority.
The governor, 41, who took office in January, described his plans to restore the finances of the Puerto Rico Highways and Transportation Authority in an interview today in San Juan during the commonwealth’s annual credit conference with municipal-bond investors and bankers.