Today National Taxpayers Union (NTU) applauded the White House's decision to suspend antiquated Jones Act shipping restrictions for Puerto Rico, bringing with it the prospect for faster transit of goods to the disaster-ravaged island at lower costs. NTU President Pete Sepp offered the following statement:
"President Trump's wise decision to waive the Jones Act for Puerto Rico will help to bring hope as well as tangible relief to the people of the Commonwealth. NTU has long contended that the Jones Act, which effectively restricts transport of cargo between U.S. destinations to American-made and American-crewed ships, could raise prices for producers, consumers, but taxpayers could be at risk too. When governments purchase everyday goods or emergency supplies, taxpaying Americans deserve the best value, and they may not be getting it when more cost-effective but safe vessels and crewing options are available. Permanent repeal of this law for all U.S. entities is the ideal solution.
Puerto Rico needs to have every possible tool at its disposal to not only rebuild its economy, but to foster genuine prosperity for the long term. Clearing away burdensome federal regulations, facilitating more efficient infrastructure, and crafting federal tax reforms that make Puerto Rico an attractive destination for capital are needed now. Here's hoping that the President's thoughtful decision will spur additional action from policymakers in Washington to help our fellow citizens in Puerto Rico build a brighter future."
NTU is a nonpartisan citizen group founded in 1969 to work for lower taxes, limited government, and economic freedom. NTU, which has supporters across the United States (including Puerto Rico), has remained deeply involved in fiscal policy toward Puerto Rico after participating in the debate over the PROMESA legislation