Senate Democrats yesterday blocked a Republican disaster aid bill, saying that it doesn’t do enough to help hurricane-torn Puerto Rico, the Associated Press reported. The 44-49 vote fell short of a majority, much less the 60 votes required to overcome a Democratic filibuster.
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The White House is preparing to ask the Senate to confirm the current members of Puerto Rico’s oversight board, according to people familiar with the matter, a move that would disappoint critics of the U.S. territory’s financial supervisors, WSJ Pro Bankruptcy reported.
U.S. District Judge Laura Taylor Swain yesterday granted a request from the unsecured creditors' committee (UCC) that sought to set expedited deadlines for procedures for Puerto Rico to bring avoidance actions in its bankruptcy cases because of a looming deadline, Caribbean Business reported.
Investors are hanging on to bonds issued as part of Puerto Rico’s massive restructuring effort, a sign of confidence in the fiscally troubled island’s prospects, the Wall Street Journal reported. Prices have edged higher for $12 billion in new debt backed by sales taxes that Puerto Rico issued several weeks ago.
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This wiki is a repository for members of the U.S. Congress, other policy makers, academics, investors, the media and the general public to understand the challenges facing Puerto Rico in 2016 and to provide data and information to begin crafting long term sustainable solutions. Click here to view.