Rangel rakes in cash from island rum scrum - Washington Times
Chairman weighs two tax bills
More Politics Stories
By S.A. Miller
The outcome of a legislative tussle over rum taxes between Puerto Rico and the U.S. Virgin Islands remains in doubt, but there is already one clear winner - the House's top tax writer, Rep. Charles B. Rangel, a New York Democrat who is pocketing campaign cash from both territories.
At issue are competing bills that could make or break a deal that lured rum producer Captain Morgan from its longtime home in Puerto Rico to a new facility in the Virgin Islands with the promise of billions of dollars in subsidies to the liquor company paid out of U.S. rum taxes.
Puerto Rico wants to drastically limit the amount of U.S. rum tax money the islands can give directly to the liquor industry, while the Virgin Islands wants to make permanent the rum-tax rebates to the territories, a change that would bolster its 30-year agreement to subsidize the production of Captain Morgan.
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More Politics Stories
By S.A. Miller
The outcome of a legislative tussle over rum taxes between Puerto Rico and the U.S. Virgin Islands remains in doubt, but there is already one clear winner - the House's top tax writer, Rep. Charles B. Rangel, a New York Democrat who is pocketing campaign cash from both territories.
At issue are competing bills that could make or break a deal that lured rum producer Captain Morgan from its longtime home in Puerto Rico to a new facility in the Virgin Islands with the promise of billions of dollars in subsidies to the liquor company paid out of U.S. rum taxes.
Puerto Rico wants to drastically limit the amount of U.S. rum tax money the islands can give directly to the liquor industry, while the Virgin Islands wants to make permanent the rum-tax rebates to the territories, a change that would bolster its 30-year agreement to subsidize the production of Captain Morgan.
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posted by Phil Smith at
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