Unfortunately the US gov’t has always seemed to enjoy taking federal tax dollars (except income tax, which Puerto Ricans do not pay) from Puerto Rico without having to spend money to provide services.

Six years ago it was hit hard by huricane Maria and last year, while still recovering from that, it was hit by Fiona.

Experts say the island’s economic crisis is rooted in twentieth-century legislation that encouraged Puerto Rico’s reliance on debt to fill federal funding gaps. It did this by giving bond investors higher returns and loosening borrowing limits. Since 1917, lenders to Puerto Rico have been exempt from local, state, and federal taxes—the so-called triple tax exemption—effectively boosting their profits and making the island a more attractive investment. The territory’s constitution also allows Puerto Rico to balance its budget with its debt, among other provisions that facilitate borrowing.

The debt problem accelerated after 1996, when the U.S. government began phasing out Internal Revenue Code Section 936. This provision had allowed American businesses to operate tax-free in Puerto Rico, which critics viewed as a windfall for wealthy corporations. Section 936’s repeal triggered a deterioration of Puerto Rico’s manufacturing sector, and the territorial government increasingly turned to debt to cover its spending.

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