VI Senate - 1/24/12
For those of you not able to follow on radio or TV, the Senate by vote of 10-5 just passed this ...
They're now debating a bill to increase gross receipts to 5 percent.
I'll spare you the details of the debate.
Wonder who will be foolish enough to be the debtholder?
Banks _ Popular and First were mentioned in the Senate, but the loans were conditioned upon an increase in gross receipts, terms that we negotiated pre-HOVENSA announcement, so I can't see the loans going through now. The first measure gives the government a chunk from the insurance fund and eliminates the sunset on the last gross receipts increase and authorizes the collection of property taxes at 98 assessed levels, but the governor will surely contend it's not enough and we'll be right back to where we started _ oh yeah, minus HOVENSA.