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Tax Break Talk, Power Bills, and a Board Homework Assignment · 787daily — Puerto Rico Every Morning

• 0:00
  Good morning!
• 0:00
  This is 787daily, your Puerto Rico briefing for Saturday, October 24.
• 0:04
  Grab your coffee.
• 0:05
  Today's lead might make your next restaurant bill a little friendlier.
• 0:09
  Governor Jenniffer González Colón sent a proposal to the Oversight Board on Friday.
• 0:12
  The idea: temporarily drop the IVU on prepared foods in November and December.
• 0:16
  There's a catch, of course.
• 0:18
  It all depends on the board's authorization.
• 0:20
  But restaurateurs are already cheering, and honestly, who can blame them?
• 0:23
  Now, a tax break only helps if people feel like spending.
• 0:27
  And that's where things get tricky.
• 0:28
  Consumer confidence in Puerto Rico fell to 22% in September, its lowest level yet.
• 0:33
  Shoppers are getting more cautious, and companies are having to rethink their marketing strategies to reach them.
• 0:38
  So that holiday-season relief?
• 0:39
  The timing is interesting.
• 0:40
  Now let's slow down for a moment, because the next story is a serious one.
• 0:45
  The pressure on shoppers is also landing on the businesses that serve them.
• 0:49
  Alan Taveras, president of the retail group CUD, warns that 10,000 to 12,000 small and medium businesses could close within three to six months.
• 0:57
  The cause he points to: power costs.
• 0:59
  He says more than 70,000 jobs are at risk.
• 1:02
  Those are neighbors, families, and corner shops we all know.
• 1:05
  And that brings us to the governor's own words on electricity.
• 1:08
  Governor Jenniffer González says LUMA was hired to solve problems, not manage excuses.
• 1:12
  She has ordered her team, including Suzanne Roig and Josué Colón, to urgently evaluate legal and financial options to cut electricity costs for families.
• 1:19
  Back to the Oversight Board, because it has homework to hand out.
• 1:23
  The board ordered the Department of Education to revise and resubmit its multiyear financial plan.
• 1:27
  It covers fiscal years 2027 through 2032, and it's due December 31, 2026.
• 1:32
  The department will prepare it together with the Office of Management and Budget.
• 1:36
  Finally, a quick check on the Legislature.
• 1:38
  Of the 30 measures we're tracking, 12 have passed a chamber, and 18 are still in committee.
• 1:43
  So there's plenty still moving, and plenty still waiting its turn.
• 1:46
  That's your Saturday rundown.
• 1:48
  You can read every story in full at 787daily.com.
• 1:52
  Thanks for starting your day with 787daily.
• 1:55
  We'll be back with more soon.
• 1:57
  And before you go, your Puerto Rico fun fact for today: Puerto Rico's holiday season is one of the longest on Earth, stretching well into January.