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common currency, common economic policies The proposed clause would deprive the Puerto Rican Treasury States of Treasury a good This its revenue; for, in the words of the United taxes on bill would take a step backward from a common market and of is dependent on excise economic union [for it would allov different external even recently imposed a 5% emergency tariffs.' excise tax on to additional revenues. Second, one can object to the matter of allowing Puerto Rico to establish its own tariffs for two very important reasons: Subsection tariffs, a continues, or taxes of "nor any shall kind the on articles United imported States the impose into a. The Compact states that Puerto Rico "may levy, increase, restrictions, United States from Puerto Rico. This prohibits (which United reduce, or eliminate tariffs and quotas on articles im- the from levying excise taxes on Puerto Rican products Puerto ported provided that the action assured "conformity generate may argue that lack of the excise tax would bring if even this States $60 million annually for the Island's treasury). in with international obligations." Under this section, Puerto Rico would have the ability to lower its duties and tariffs Ricans revenue due to greater sales on the mainland. Yet, example, imposed on foreign imports into the Island. The result more it would hardly be fair to the Virgin Islands, for would be lower prices on foreign goods for Puerto Rican were whose so, economy is also dependent on the export of similar consumers and may price mainland firms out of the products. market. (For example, were Puerto Rico to lower the tariff Section 14 on rice, the Island could import rice from Thailand, Burma, and China; and since its price would be lower than I am of the opinion that if the Commission were composed of rice coming from California, Arkansas, Louisiana, and three members representing the mainland and three members Texas, it could result in losses for American mainland representing only Puerto Rico, it would be extremely small and unable have companies.) deal effectively with the many areas of responsibility we b. Section 9, subsection e further provides that Puerto Rico could eliminate duties on products coming into the Island, to assigned to it. I am concerned that such a Commission would not adequately represent the many varying interests (economic, Rican then add 35% value to those products, and export them duty-free to the United States. (For example: an entre- political, social, cultural and security) regarding Puerto issues. If the Commission is to have authority and respect, it must preneur could set up a textile processing plant in Puerto Rico, which the Puerto Rican Government would encour- be representative. Further, I am only too well aware, as a result of working with and age in order to improve the Island's economy. Subse- the Ad Hoc delegation, of the difficulty we had in obtaining quently, raw, unfinished textiles from abroad could be imported duty-free. Next, the merchandise would be maintaining a quorum, since our Advisory Group had such a small be number of members. Although I realize the Commission would processed, adding at least 35% value to the finished a permanent organization, I would still suggest a change. product. As a consequence, clothing could be shipped to Therefore, I recommend a Commission composed of 14 the United States, again duty-free, permitting sale of the members; seven appointed by the President of the United States; finished product in the fifty states at a much cheaper rate and seven appointed by the Governor of Puerto Rico. The repre- than that produced on the mainland.) sentation on this Commission as selected by the President and Third, Puerto Rico, for its own sake, may be wise to recon- the Governor, respectively, should assure a balance between the sider subsection a of section 9. The wording prohibits Puerto major political parties. Rico from imposing "restrictions, tariffs, or taxes of any kind on articles imported into Puerto Rico from the United States 63 62

Document source description

This file contains a published report of the Ad hoc Advisory Group on Puerto Rico.

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