Puerto Rico Public Buildings Authority

Some analysts question how much a leftist governor would impact financial and bond issues.

Oversight Board Executive Director Robert Mujica said the only recently released fiscal 2022 ACFR showed revenues and expenditures continue to be imbalanced.

Oversight Board asks Gov. Pierluisi not to sign a bill it says would cost $3 billion over five years.

But a change in how foreign corporations are taxed brought down total revenue for the year.

In direct costs to the budget, the proposal would cost Puerto Rico revenues $153.2 million of individual taxes and $283.6 million of corporate taxes per year, according to the governor. The Oversight Board disagrees.

Included in the plan is a $545 million for a loan to the Puerto Rico Electric Power Authority and more money for the government's emergency reserve.

The U.S. Supreme Court ruled against a journalist group seeking the release of a wide range of Puerto Rico Oversight Board information, which may have had an impact on the PREPA bankruptcy proceedings.

In his annual address to Puerto Rico's legislature Pedro Pierluisi hailed the growth of Puerto Rico's economy.

The governor asked the high court to review a ruling that gave the board broad power to overturn laws it deems inconsistent with the island's fiscal health.

The ruling could set a precedent for the board's control over local government policies affecting the economy.