Measure creates financial savings team - KUAM.com-KUAM News: On Air. Online. On Demand.

Measure creates financial savings team

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by Nick Delgado

Guam - Hoping to relieve the Government of Guam from some of its debt, Vice-Speaker B.J. Cruz introduced legislation that would create a temporary commission to propose measures to reduce the public sector's annual budget deficits. Bill 3 would create an eight-member panel appointed by the governor.

The panel would be known as the "Guam Commission on Fiscal Responsibility and Reform" and would be given one year to submit its report and recommendations that would balance the budget by 2020. The measure would also require the Commission to address the solvency of the Government of Guam's Retirement Fund.

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