Puerto Rico could issue roughly $1.4 billion of sales tax bonds over the next two years to help meet cash-flow needs — just one of the recommendations a special fiscal advisory board announced Thursday to help close a $3.2 billion deficit by fiscal 2013.

The proposed sales tax bonds require legislative approval. Gov. Luis Fortuño stressed that the borrowing does not involve an increase to the island’s 7% sales tax, but would increase the Puerto Rico Sales Tax Financing Corp.’s 1% dedication to 2%.

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