Addressing the economic concerns of the United States territory of Puerto Rico on Thursday, Gov. Alejandro Garcia Padilla pledged to negotiate with legislators after they voted down an overhaul of Puerto Rico's tax system.

The 43-year-old politician warned that, if need be, he would act independently to fix the government's financial problems.

“The island can no longer bear the uncertainty of inaction. With you, or in spite of some of you, this island will rise," Garcia said. 

The governor’s cautionary address came hours after legislators rejected Garcia's call for a 16 percent value-added tax.

As reported by The Associated Press, Garcia announced he would take immediate action to reduce the government's costs, and restructure the Treasury Department in an effort to help lessen the rampant tax evasion that has been occurring.

Garcia noted that his administration had already reduced a $2.2 billion deficit to less than $200 million this year, and had cut 16,000 government positions without having to resort to layoffs.

Garcia had criticism for those who voted against his tax measure, calling the act "egotistical and disloyal."

Addressing the work ahead for Puerto Rico, Garcia said: "The path we're going to take will be harder, but not impossible."

Counter to this position, Rep. Manuel Natal, an opponent of Garcia’s tax plan, said that he and the other legislators who voted against the measure simply desire a tax overhaul that reflects the island's fiscal realities and does not press upon the working class.

All this comes at time of great potential change for Puerto Rico, as Jeb Bush, the former Florida governor who will likely be the Republican presidential candidate, has recently restated his support for Puerto Rican statehood.

As reported by CNN Bush informed a crowd on Tuesday that he has long been a backer of the movement to make the U.S. territory the 51st state.