Electricity prices in Puerto
Rico are going up 8% by late July or early August. But that's just the
beginning. By early 2017, rates are expected to jump 26%, if the island's
electric authority (known as PREPA) gets its way.
It's the latest blow to the
people and businesses of Puerto Rico who are living through a major economic
crisis. Taxes have gone up (the sales tax is now 11.5%), jobs are scare
(unemployment is 11.7%), home values are plummeting. People are literally
fleeing the island at a rate not seen since the 1950s "West Side
Story" era.
"Everything is more
expensive in Puerto Rico right now," says Father Enrique Camacho, head of
the Catholic Charities on the island. "People are really not able to pay
for utilities, rent, or school for their children.", he told CNN.
No comments:
Post a Comment