Public hearing in Guam to address possible tax increases and pay cuts on Wednesday
Several public hearings are scheduled for Wednesday to address temporary solutions to combat the pending government of Guam financial crisis due to federal tax cuts.
Last week, both Gov. Eddie Calvo and Speaker B.J. Cruz offered similar proposals which called for the raising of business privilege taxes.
Calvo’s bill would increase the BPT by 50 percent, providing funding to public schools, Guam Memorial Hospital, and other government operations.
"This temporary increase would bridge that gap and equalize the benefits to tax payers with the financial stability for the government," the governor's office stated.
Read more: http://www.guampdn.com/story/news/2018/02/18/public-hearing-address-possible-tax-increases-and-pay-cuts-wednesday/349085002/