Number: RS20695 Title: THE PUERTO RICAN ECONOMIC ACTIVITY TAX CREDIT: CURRENT PROPOSALS AND SCHEDULED PHASEOUT Authors: David L. Brumbaugh, Government and Finance Division Abstract: U.S. firms have long received a tax benefit for operations in Puerto Rico and other U.S. possessions. The Clinton Administration for several years has proposed extending a modified version of the credit beyond its expiration date, and several proposals in Congress would also modify and extend the credit. Pages: 6 Date: Updated October 4, 2000