The Senate could vote later on Friday on a tax reform package. If a package passes the Senate, the House and Senate will likely use the conference committee process to reconcile differences between the final House and Senate tax packages.
Eric LeCompte, Executive Director of the religious development organization, Jubilee USA, releases the following statement:
“Any final tax reform package should support and protect vulnerable communities. I’m concerned that portions of the current tax plans will harm poor populations.
"A final tax package should not shifts greater tax burdens to the poor or constrict our budget from providing adequate foreign development assistance or disaster relief.
"We could see more developing countries borrowing more money and becoming more indebted as a result of less foreign assistance because of current tax plans.
“Current tax reform legislation moves the US to a so-called territorial tax system that encourages the use of tax havens and permits corporations to avoid paying US taxes and taxes in developing countries. Such a plan has a human cost and negatively impacts poor people at home and abroad.
“Puerto Rico and the US Virgin Islands are still struggling to recover from the aftermath of this hurricane season and they should not be subject to additional excise taxes that US states are not subject to. While Congress considers tax policies to promote jobs for Americans in the 50 States, those policies must also ensure that US citizens living in Puerto Rico and the Territories are treated the same. Puerto Rico and the US Territories will lose tens of thousands of jobs if Congress passes a final tax package with new excise taxes for the Territories.”