Advocating for the Rum Cover-Over Legislation
The Rum Cover-Over provision has been in limbo since the expiration of federal tax extenders on December 31, 2021. This essential funding mechanism supports the Virgin Islands’ economy and ensures the well-being of our pensioners. Yet, since its lapse, Congress has not reinstated this critical measure.
Teri Helenese, alongside officials from the Virgin Islands and Puerto Rico, continues to work relentlessly with lawmakers on the House Ways and Means and Senate Finance Committees to stress the importance of this provision and push for legislative action. Teri’s deep expertise in legislative processes and her commitment to advancing the Virgin Islands’ priorities make her a trusted voice in these policy conversations. The Rum Cover-Over remains the lifeblood of the Virgin Islands, and the fight for a permanent solution remains steadfast.
Teri has been at the forefront of efforts to educate vital congressional committees on the critical importance of the Rum Cover-Over legislation. Through her leadership, significant strides have been made toward securing a favorable outcome for this tax extender, potentially yielding $93 million in annual funding. This crucial funding aims to support retirees’ pensions in the USVI via the GERS pension system, finance infrastructure projects, and contribute to Puerto Rico’s Conservation Trust. Teri’s bipartisan approach and extensive engagement with the House Ways and Means Committee, Senate Finance Committee members, and industry professionals have laid a solid foundation for the legislation’s future success. Despite the current gridlock in Washington impeding immediate progress, Teri’s persistent advocacy ensures that the negative financial impacts on the economies of the Virgin Islands and Puerto Rico remain at the forefront of congressional awareness. With unwavering dedication, Teri continues to push for Congress to move past its paralysis, championing a cause that promises substantial benefits for American communities in both territories.
