A Cut in Credit for Work Will Discourage Work in the Formal Economy

By Redacción de Sin Comillas Reduce the Labor Credit Program (EITC) in Puerto Rico, as proposed by the Fiscal Control Board, would discourage work in the formal economy, lower the labor participation rate and reduce economic growth, according to an analysis by the organization Espacios Abiertos (EA). The cuts, of about $400 million, would disproportionately affect more vulnerable populations, such as pensioners, young people and families without…