Puerto Rico legislators may slash the commonwealth's annual bond bill by $175 million if Gov. Anibal Acevedo Vila signs a measure that would allow officials to pay a loan to the Government Development Bank for Puerto Rico with revenue as opposed to bond proceeds.

While lawmakers say that initiative should pass through both chambers, another bill, which would decrease the island's sales tax to 2.5% from 7% and replace the funds with a revamped 6% excise tax, has not gained support in the Legislature.

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