Guam – Governor Eddie Calvo Thursday countered doubts raised by Senator Ben Pangelinan over the $55.5 million dollar Make-Work-Tax-Credit [MWTC] on the list his office released of Unfunded Liabilities.
Senator Pangelinan has questioned the amount and its placement on a list of liabilities saying its a credit and does not belong in the debt column.
But the Governor Thursday on the K-57 Breakfast Show said the funds were not spent on tax-credits for island residents as they should have been. The previous administration allocated the money to pay for other GovGuam debts. As a result the money must be paid back, and that makes it a liability.
Meanwhile, the Governor’s Deputy Press Secretary, Phill Leon Guerrero, added that only $7 million of the total $62 million dollar MWTC funding was dispersed to Guam residents as tax credits. The rest rest was used to pay for other unrelated expenses.
Governor Calvo has said that he intends to stop the practice of using federal funds for un-intended purposes.
