Announcing CPTR

The Robert Schalkenbach Foundation and Center for the Study of Economics are pleased to announce the creation of the "Center for Property Tax Reform" (CPTR), a new, joint undertaking between these long-time collaborators.Both RSF and CSE share…

Puerto Rico: On the Edge of Some Very Risky Business

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The Puerto Rican budget depends to a high degree on the Sales and Use Tax (IVU for its Spanish acronym)  and the Commonwealth income tax and corporation tax. To pay off hundreds of billions of dollars in bonds, Puerto Rico decided to pay off the bonds with the IVU. Current bond debt and unfunded pensions amount to about $125 billion. There is no guaranteed revenue stream to rebuild infrastructure after earthquakes and hurricanes. The Commonwealth government has made its books look good by reducing aid to municipalities. Municipalities have no own-source funding. The cost of basic needs for the populace, such as energy, export facilities, and the Jones Act, makes life on an impoverished island very expensive indeed.

After Covid and local recessions…Unearthing the Big Apple’s revenue under its feet

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Last January, CPTR piped up with its observations on the surprise bid of Andrew Yang for the mayoralty. Borrowing from his own 2016 presidential campaign, he proposed a basic income (BI) plan for those New Yorkers left behind by pandemics, economic…