Latest news with #USCommonwealth
Bloomberg
20-05-2025
- Business
- Bloomberg
New Fortress Energy Disqualified From Puerto Rico Power Auction
New Fortress Energy has been disqualified from an auction held by the Puerto Rican government to secure temporary power generation, the latest setback for billionaire Wes Edens' troubled company. The liquefied natural gas and logistics company asked to be reconsidered for the 800-megawatt contract to help shore up the US commonwealth's shaky electric grid, according to a letter it sent to the Puerto Rico governor's office. New Fortress argued that it would be the cheapest power supplier and could provide clean fuel and a fast start-up time, adding that the company already operates turbines on the Caribbean island.
Bloomberg
21-04-2025
- Business
- Bloomberg
Democrats Take Aim at Puerto Rico Tax Perks for Crypto Investors
Democratic lawmakers on Monday introduced a bill to block investors from using Puerto Rico as a cryptocurrency tax haven — a proposal unlikely to advance without Republican support and as Congress prioritizes extending the 2017 tax cuts. Under current laws, qualified investors living in the US Commonwealth are not required to pay local or federal taxes on capital gains, including crypto appreciation. That tax break — part of a broader package of tax incentives known as Act 60 — has made the island a haven for thousands of digital currency enthusiasts.
