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Latino Daily News

Tuesday April 12, 2011

Puerto Rico Stands to Lose $200 Million from Proposed Budget Cuts

The $38 billion in proposed budget cuts would cost the U.S. territory of Puerto Rico $200 million that are currently allocated to it.

The current budget proposal before U.S. legislators would reduce by 10% all funds that Puerto Rico receives from the U.S. to operate.  Puerto Rico’s representative in Washington, resident commissioner Pedro Pierluisi said yesterday that he puts the funding loss between $100 million to $200 million.

Residents and the island’s government is worried since Puerto Rico has been in a deep economic crisis and has one of the highest rates of unemployment in all of the U.S.  The budget reduction would only exaggerate the 16% rate of unemployment and hopes for recovery.