Guam Republicans introduce 'economic stabilization' bill

Guam’s Republican senators have introduced a bill proposing to extend financial assistance to local families, local businesses as well as first responders, law enforcement personnel and strengthen emergency communications.

“We’ve proposed several economic stabilization measures that benefit as many of those who are affected by the pandemic and not any one group of people. These proposals help businesses and individual consumers by reducing taxes and help to maintain if not reduce the costs of goods and services,” Minority Leader Telo Taitague said of Bill 319-35.

The Guam Chamber of Commerce earlier released results of its membership poll, showing that 87 percent of Guam businesses are adversely impacted by the Covid-19 pandemic.

Some businesses reported temporary closures, payroll cuts and furloughs.

Telo Taitague

“Hundreds if not thousands of families are suffering financially,” Sen. Louise Borja Muna said. “We want to help by prioritizing the paying out of tax refunds as quickly as possible and giving 100 percent exemption for