jamesinclair
Banned
Looks like someone needs some bailing out.
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SAN JUAN, Puerto Rico (AP) -- The government of Puerto Rico ran out of money Monday, forcing the U.S. commonwealth to close public schools and shut down government offices, putting almost 100,000 people out of work.
The legislature and governor failed to reach a last-minute accord that would have averted the first-ever partial shutdown of the government in island history.
All 1,600 public schools on the island were closed two weeks before the end of the academic year, and 43 government agencies were shut down after negotiations between lawmakers and Gov. Anibal Acevedo Vila failed.
Acevedo blamed "legislative inaction" for the shutdown.
"As of 8 a.m. this morning, I don't have in hand a single legislative proposal that resolves this crisis," he told reporters.
The closure gave an unplanned holiday to 500,000 students and threw almost 100,000 government employees -- including 40,000 teachers -- temporarily out of work. The governor has said essential services, such as police and hospitals, would continue during the shutdown.
. . .
Puerto Rico has a $740 million budget shortfall because the legislature and the governor have been unable to agree on a spending plan since 2004.
...
Overnight, the Senate leader offered a compromise that would create a 5.9 percent sales tax, which he said would raise enough money to pay off an emergency $532 million line of credit the government needs to finish the fiscal year.
But that proposal failed to gain traction in the House of Representatives, where leaders said they opposed any sales tax above 5.5 percent -- with 1.5 percent earmarked for municipalities.
Both proposals fell short of the 7 percent that Acevedo said was necessary to pay for an additional $640 million loan and avoid a partial government shutdown. Anything less that 7 percent would only postpone the crisis until July 1, when the next fiscal year begins, the governor said.
The island currently has no sales tax.
http://www.cnn.com/2006/WORLD/americas/05/01/puerto.rico.shutdown.ap/index.html
Damn Republicans
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SAN JUAN, Puerto Rico (AP) -- The government of Puerto Rico ran out of money Monday, forcing the U.S. commonwealth to close public schools and shut down government offices, putting almost 100,000 people out of work.
The legislature and governor failed to reach a last-minute accord that would have averted the first-ever partial shutdown of the government in island history.
All 1,600 public schools on the island were closed two weeks before the end of the academic year, and 43 government agencies were shut down after negotiations between lawmakers and Gov. Anibal Acevedo Vila failed.
Acevedo blamed "legislative inaction" for the shutdown.
"As of 8 a.m. this morning, I don't have in hand a single legislative proposal that resolves this crisis," he told reporters.
The closure gave an unplanned holiday to 500,000 students and threw almost 100,000 government employees -- including 40,000 teachers -- temporarily out of work. The governor has said essential services, such as police and hospitals, would continue during the shutdown.
. . .
Puerto Rico has a $740 million budget shortfall because the legislature and the governor have been unable to agree on a spending plan since 2004.
...
Overnight, the Senate leader offered a compromise that would create a 5.9 percent sales tax, which he said would raise enough money to pay off an emergency $532 million line of credit the government needs to finish the fiscal year.
But that proposal failed to gain traction in the House of Representatives, where leaders said they opposed any sales tax above 5.5 percent -- with 1.5 percent earmarked for municipalities.
Both proposals fell short of the 7 percent that Acevedo said was necessary to pay for an additional $640 million loan and avoid a partial government shutdown. Anything less that 7 percent would only postpone the crisis until July 1, when the next fiscal year begins, the governor said.
The island currently has no sales tax.
http://www.cnn.com/2006/WORLD/americas/05/01/puerto.rico.shutdown.ap/index.html
Damn Republicans
