The agenda is as broad as important and it will be completed if the interest of Puerto Rico prevails over any other. And that harmonious conversation is the path that leads to solutions.
Defining a regulatory framework and public policy on the privatization process of the Electric Power Authority´s assets is in the front row. Ensuring transparency and oversight in transactions, as criteria for the protection of the public interest on the path towards infrastructure modernization and diversification of energy sources is an essential task.
Public policy and the regulatory framework for the energy system must be clear and inspire confidence in investors interested in contributing their capital to strengthening the different components of the power grid. The same credibility has to reach the customers, whose interests should be reasonably defended by the regulatory framework arising from the legislative process.
Having a renewed and resistant energy system is the key to the stability and sustainability of the activities of the different economic sectors. The weakness or strength of the power grid also impacts the quality of life of our families.
In this line, the tax reform and the Incentive Code are also clear priorities. The first one is seeking the long-awaited tax justice for individuals and companies, which would help the climate of capital investment on the island. It is clear that this is a necessary step for job creation and to honor obligations.
Similarly, the success of the revision of fiscal regulations depends on their synchronicity with the vision of the future of Puerto Rico. To this end, it is essential to have metrics on the return on investment made in different economic or social sectors.
Legislative analysis should ensure that tax changes do not contradict revenue projections to the Treasury that support the figures in budget and the fiscal plan. These have been certified by the Oversight Board and endorsed by judicial ruling under PROMESA Title III.
It is essential that legislators stand firm with the priorities of Puerto Rico. It is not wise to waste energy, time and resources in political survival, as it is to impose an artificial rescue of the Permanent Registration Boards, by attributing them tasks that other public agencies can do.
The pressing needs of many Puerto Ricans demand that they legislate to build Puerto Rico on productive bases, without any waste that only favors partisanship. The moment calls to watch that our limited resources go to essential areas and in line with the current budget.
Almost a year after the devastating Hurricane Maria, Puerto Rican people deserve and expect that legislators work with the greatest responsibility in this session agenda, which includes debates on energy and tax among other core issues for the future of Puerto Rico.
We should not forget that fiscal balance is a condition to solve the debt problem, which has kept the island away from markets that are sources of investment capital. It is up for the Legislative Assembly to support the future development of Puerto Rico.
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