Home News Local news CLINTON SIGNS RUM TAX AMENDMENT INTO LAW

CLINTON SIGNS RUM TAX AMENDMENT INTO LAW

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President Bill Clinton signed legislation Friday that will increase the bulk rum tax rebate to the territory to $13.25 from $10.50 per proof gallon through December 2001.
The increase could mean an infusion of up to $20 million a year into the V.I. treasury.
Gov. Charles W. Turnbull, who made the announcement, is in Washington this week attending the Democratic Governors Association meeting.
"This is a big win for the Virgin Islands," he said. "I am very grateful for the personal support of President Clinton on this measure during the tough budget negotiations in the last weeks of the congressional session."
It was expected that the President would sign the bill that was passed in the House of Representatives by a vote of 418-2 land approved by the Senate last month.
Delegate Donna Christian-Christensen said at that time that she had been assured of White House support for the temporary lifting of the rum tax cap.
The cap increase, a provision of the Work Incentive Improvement Act, applies to Puerto Rico, too.

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