November 16, 2017 / 9:21 PM / a month ago

U.S. Congress to seek new tax incentives for Puerto Rico rebuilding

WASHINGTON (Reuters) - U.S. House of Representatives Speaker Paul Ryan said on Thursday he wants to craft changes to a just-passed tax overhaul bill to provide “additional tax incentives” that would help Puerto Ricans recover from Hurricane Maria.

In a statement following passage in the House of a major tax bill, Ryan said he would try to insert unspecified provisions into the legislation that would grant new tax incentives “so that our fellow U.S. citizens in Puerto Rico can have all the possible resources to rebuild their lives and their economy.”

Puerto Rico has been reeling from hurricane damage, which disrupted the U.S. territory’s power grid, contaminated water supplies and destroyed homes and businesses.

Reporting by Richard Cowan; Editing by Peter Cooney

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