FOR IMMEDIATE NEWS RELEASE (March 4, 2018 – Hagåtña) – In response to yet another bill from the Governor for a 50% increase in Business Privilege Tax, Acting Speaker Therese M. Terlaje and the Legislative body during Special Session last night for Bill No. 1(6-S) went into the Committee of the Whole to seek answers from the Department of Administration related to the cash impact of passing the proposed tax increase immediately, and whether there would be any increase in cash upon passage of the bill that might affect the announced closing of fire and police stations.
It was confirmed by DOA that if a bill was passed last night on a BPT increase it would not yield additional cash flow until April 20th. Similarly, DOA confirmed that if Bill No. 248-34 (LS) was passed last night to implement a sales tax, it would not yield additional cash until May.
The Acting Speaker is encouraging the public’s input on the government reorganization and sales tax bills set for hearings this week, while work continues towards analysis and consensus on additional cost cutting measures and revenue enhancement strategies.
“My colleagues and I are diligently working towards consensus on additional cost cutting and revenue enhancement measures, based on facts, and are seeking community input as we move forward,” Terlaje said.
For more information, please call the Office of Vice Speaker Therese M. Terlaje at (671) 472-3586.