Interview Highlights
On the Puerto Rico debt crisis:
– “The Puerto Rican economy has under-performed for the past 15 years.”
– “I lowered expenses by almost 20% and lowered taxes, the economy went into slightly positive territory for two years.”
– “To regain credibility, there needs to be the political will to control expenses, so new taxes will not drown the economy even further…you can’t tax your way out of this hole.”
– “The economy has been in a tailspin for the past 32 months.”
About Luis Guillermo Fortuño
Former Governor Luis Guillermo Fortuño served as the tenth Governor of the Commonwealth of Puerto Rico. During his tenure as Governor, Fortuno served as president of the “New Progressive Party of Puerto Rico (PNP)” until 2013, and as a member of the Republican National Committee. He is also the first Republican representative from Puerto Rico to be elected to Congress in its history. Since returning to private life Fortuno moved to Washington DC where he is a partner with the Steptoe & Johnson law firm in its Corporate, Securities & Finance Group and the Government Affairs and Public Policy Group.
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