Tag: Black Market
Puerto Rico: Legalize Black-Market Slot Machines?
June 22, 2015
Facing a cash crisis, Puerto Rico is turning to desperate measures to pay the bills: It’s delaying tax refunds, borrowing from its insurance company and may even legalize the black-market slot machines in grocery stores. Lawmakers have yet to agree on a budget, with less than two weeks before the start of the new fiscal year. Without a spending plan in place, the junk-rated commonwealth won’t be able to raise as much as $1 billion from investors to keep the government running as it waits for tax revenue to flow in. “I have to prioritize,” Treasury Secretary Juan Zaragoza said…