In September 2005 City Mayor William Miranda Marin levied the first Municipal tax in Puerto Rico via city ordinance. Area Merchants now charge a one cent tax for every dollar spent on all retail businesses. The tax has become known around the island as the "Willie Tax." It resulted in an estimated $500,000 monthly income for the city. However, the municipal tax was increased to 1.5% after the establishment of the 5.5% state tax for a total of 7%.
During 2006, Miranda Marin began calling Caguas "El Nuevo Pais de Caguas" ("The New Country of Caguas").
Agriculture
Its community has enjoyed one of the more robust economies amongst Puerto Rican cities since the 1980s. During the early part of the 20th century, Caguas hosted one of Puerto Rico's most important sugar manufacturers, which gave employment to thousands of Cag�e�os.
Business
Numerous businesses and important buildings have opened in Caguas since the 1980s, including the imposing 23 story apartment building Caguas Tower, its adjacent competitors Bonneville Apartments, and the 10 floor San Juan Bautista Medical Center. There are also several shopping malls:
� Plaza del Carmen Mall,
� Plaza Centro Mall
� Las Catalinas Mall
� Los Prados Mall
� Bairoa Shopping Center
� Villa Blanca Mall
� Angora Shopping Center
� Plaza Degetau
� Plaza Caguitas
