Puerto Rico’s Current Fiscal Challenges: In Brief

Source: D. Andrew Austin, Congressional Research Service, CRS Report, R44095, April 11, 2016

The government of Puerto Rico currently faces a serious fiscal emergency that is the culmination of longstanding budgetary, economic, and financial challenges. While Puerto Rico has made a number of structural reforms and has increased tax rates in the past few years, it had been unable to head off increasingly urgent fiscal challenges. ….