by Sabrina Salas Matanane
Guam - As recommended by the Executive Branch, Senator Rory Respicio is announcing he along with several of his democrat colleagues and all republican senators have introduced legislation that would adjust the debt ceiling thereby ensuring 2011 tax refunds are paid on time this year.
In a joint letter to Governor Eddie Calvo, the 12 senators note that in order to adjust the debt ceiling the measure seeks to increase the valuation formula for real property while lowering real property tax rates. According to a media release there will be no increase in liability for any real property taxpayer. The three lawmakers that did not join in on the effort, Speaker Judi Won Pat, Vice Speaker BJ Cruz and Senator Ben Pangelinan.
