Added Tax Amid Scrutiny

February 13, 2015 9:45 PM

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Puerto Rico's governor on Friday defended his proposal to create a 16 percent value-added tax as pressure built on the government to fix its finances.

Gov. Alejandro Garcia Padilla held a round table discussion with other officials to stress that the tax is needed to help the U.S. territory emerge from an eight-year recession and pay off $73 billion in public debt.

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