SAN JUAN, Puerto Rico – New austerity measures are coming for Puerto Rico as a federal control board overseeing the U.S. territory's finances meets Thursday to approve several fiscal plans that will serve as the island's economic blueprint for the next five years.
Drafts of the plans released Wednesday call for a 10 percent average cut to a pension system facing nearly $50 billion in liabilities. They also seek the closure of prisons, consolidation of dozens of state agencies and significant reductions in government subsidies to the island's 78 municipalities and Puerto Rico's largest public university.
The board also said Puerto Rico's government should cut sick leave and vacation pay by half.
Antisemitism Exposed
Fox News' Antisemitism Exposed" newsletter brings you stories on the rising anti-Jewish prejudice across the U.S. and the world."
By entering your email and clicking the Subscribe button, you agree to the Fox News Privacy Policy and Terms of Use, and agree to receive content and promotional communications from Fox News. You understand that you can opt-out at any time.