Lawmakers in Puerto Rico, a territory of the United States in the Caribbean Sea, announced in January their plans to partially default on $1 billion in monthly bond payments owed to investors in state-owned corporations, such as the territory’s Public Finance Corporation and the Puerto Rico Infrastructure Financing Authority.
The territory, which is currently led by Alejandro García-Padilla (Popular Democratic Party), is self-governed, but it is ultimately subject to legislation passed by the U.S. Congress.
William Freeland, a research analyst with the American Legislative Exchange Council, says the current inability of the territory to fully pay its bills is caused in part by economic policies set by mainland lawmakers.
“They are still subject to U.S. minimum federal wage [requirements],” Freeland said. “The minimum wage in most of the mainland is about 28 percent of the median wage, and for Puerto Rico it is 77 percent. It is far, far above what the minimum...
Lawmakers in New Hampshire are proposing new legal protections for the state’s residents, requiring local and state law enforcement agencies to obtain a criminal conviction before the government can confiscate an individual’s cash or property.
New Hampshire law enforcement agencies currently can use a legal process called civil asset forfeiture to seize private assets and property believed to have been used in the commission of a crime.
‘The Wrong Incentives’
The bill’s sponsor, Rep. Dan...
A plurality of American adults surveyed in a Gallup public opinion poll believe government is now the biggest problem facing the nation.
The new Gallup Poll Social Series survey asked approximately 12,000 randomly selected adults over the age of 18 to identify the most important problem in the nation. The survey marks the second consecutive year respondents identified government as the nation’s top problem.
Karlyn Bowman, a senior fellow and research coordinator with the American Enterprise...