Business

St. Croix Democrats Reject Mapp's Five-Year Plan, Fail To Introduce Alternative

ST. CROIX -- St. Croix Senate Democrats late Friday responded to Governor Kenneth Mapp following a press conference the territory's leader held on the urgent need to pass a revenue-generating measure that would bolster the confidence of the bond market in the territory's bonds, as the market has refused to borrow the USVI money, citing uneasiness in the V.I. Government's ability to make good on its covenants, as well as the islands' annual need to float bonds to satisfy its structural deficit. Mr. Mapp, noting the urgency of the matter, said refusal to pass the measure or failure to replace it with something comparable would mean “the curtailing of hours, it would mean furloughing employees, it would mean cutting services, in some areas completely to a halt — it would mean closing offices of the Government of the Virgin Islands in some areas. It would be a drastic impact to the operations of the Government of the Virgin Islands." Late Friday, however, St. Croix Sena...