Finance Commish Suggests Internet Tax, Health Insurance Hike To Balance $140 Million Budget Shortfall

We can't continue to increase our revenues on the backs of government employees -- Sen. Kurt Vialet During a Finance Committee hearing Tuesday in St. Thomas, senators received testimony from recently approved Dept. of Finance Commissioner Valdamier O. Collens, who laid bare the financial condition of the territory, revealing that the prior budget shortfall of $97 million has ballooned to $140 million, a hike of $43 million, leading to the department's suggestions to bring in revenue and cut costs. According to Collens, who is also the executive director of the Public Finance Authority, the FY 2015 budget was approved based on revenues the de Jongh administration was expecting to collect. The budget shortfall at that time, according to Collens, was $97 million. But conditions have changed since the Mapp administration took office based on the new administration's financial team's projections. "We have a projected cash-flow shortfall of approximately $140 million in...