Puerto Rico
IS NOT FOR SALE
Did You Hear?
Puerto Rico's politicians have received more than 1 million dollars from Act 22 beneficiaries for their political campaigns.
Vision for a Fair and Transparent Puerto Rico
We, the Puerto Rico No Se Vende Coalition, alongside other grassroot and nonprofit organizations are dedicated to addressing the negative impacts of economic inequality in Puerto Rico and promoting transparency and government integrity.
Our Commitments
- Economic development
- Protection of Disadvantaged Communities
- Protection of Workers and Pensions
- Transparency, Accountability and Anti-Corruption
- Community Participation and Collaboration
Meet all the organizations committed to Puerto Rico
It's Time to Abolish Act 22
In the decade since the law was passed, some of its many challenges and unanticipated impacts have been highlighted. Some of these are:
Lack of Transparency
The Department of Economic Development (DDEC), the agency in charge of granting and supervising the decrees, has indicated that it does not have the necessary tools to supervise compliance with the decrees granted under Law 22.
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Tax Evasion
In 2021, the IRS announced an audit of taxpayers who have claimed benefits through Puerto Rico Act 22, without meeting the requirements of IRS Section 937, Residency Rules and Sources Involving Possessions.
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Economic Impact
As published by the Treasury in March 2023 in its Tax Expenditure Report for Taxable Years 2020 to 2026, the Government of Puerto Rico stopped generating around $4,400 million as a result of Act 22.
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Displacement
The purchase of properties and land by individual investors has disproportionately increased property values in the areas and towns where their investment has been concentrated. Most Puerto Ricans are unable to pay the inflated purchase prices and inflated rents of today's market.
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Environmental Impact
The property and land purchases by individual investors has had a direct impact on the environment, especially land near the coasts and those near natural landscapes, which are preferred by investors.
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