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Then in 1508, the island's first governor, Juan Ponce de Leon, changed the name to Puerto Rico, which means ?rich port? in the Spanish language. That's because gold and treasures from the Americas went through Puerto Rico before sailing to Europe.
The legislation details the transition to and implementation of a non-territory status for Puerto Rico? Statehood, Independence, or Sovereignty in Free Association with the United States?that is chosen by a majority of voters in Puerto Rico.
Benefits of statehood include an additional $10 billion per year in federal funds, the right to vote in presidential elections, higher Social Security and Medicare benefits, and a right for its government agencies and municipalities to file for bankruptcy.
This bill is a commonsense compromise that would ensure Puerto Ricans are no longer relegated to second-class citizenship and are granted the long overdue right to self-determination,? said Murphy. ?The people of Puerto Rico deserve the chance to decide their own destiny ? whatever that may be,? said Schatz.
?President Donald Trump considered the idea of selling Puerto Rico in 2017 after the island was devastated by Hurricane Maria, the former acting Homeland Security secretary told The New York Times in an interview published Friday.? -CNN, July 12, 2020.
For example, under statehood, Puerto Rico residents would be subject to federal tax on all their income: currently, they are subject to federal tax only on income from sources outside of Puerto Rico. Also, some sources of income, such as pension income, are taxed differently in Puerto Rico than in the states.
On January 4, 2017, Puerto Rico's new representative to Congress pushed a bill that would ratify statehood by 2025. On June 11, 2017, another non-binding referendum was held where 97.7 percent voted for the statehood option.
?What better than two well-prepared specialists who are bringing needed services to the island.? A total of 17,859 Puerto Ricans moved back to the island in 2021, ing to the Puerto Rico Institute of Statistics.