March 14, 2018
Hagåtña — There is renewed hope following this morning’s legislative session when senators sent Bill 248 to the third reading file. The bill, if passed on Friday, will help to bridge the $67 million revenue shortfall caused by federal tax cuts.
“We were concerned about the delay, but now there’s movement, and we appreciate that, because now we’re on our way to getting a road map,” Governor Calvo stated.
“We are hopeful it passes because the people of Guam, the GovGuam employees, our investors, and the bond rating agencies, they all need the leaders of this island to find a solution to this financial situation caused by the federal government. We need stability.”
Governor Calvo has committed to working with Senators on reorganizing the government and reducing expenditures.
This fiscal crisis is similar to a typhoon or other natural crisis.
“When Supertyphoon Pongsona hit and revenue stopped, we had 32-hour work weeks because we were in a state of calamity and needed to come together to work towards a solution. The democrats and republicans at the Legislature were willing to work with the administration to bring the island back to a state of normalcy,” the Governor stated.
“Now we have more hard work ahead of us, and my team and I are ready to keep on working.”