Lawmakers yesterday removed an amendment from the federal tax-extender bill that would have changed the way the federal government allocates rum-tax revenue to Puerto Rico and the U.S. Virgin Islands.

Sen. George LeMieux, R-Fla., last week filed the amendment to HR 4213, the tax-extender bill. The initiative aimed to calculate rum-tax revenue distributions by population rather than the current system which bases such allocations on the number of barrels produced in each territory.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.