Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) on Wednesday introduced a bill that would essentially wipe out tens of billions of dollars of Puerto Rico’s $73 billion in outstanding debt, CNBC.com reported. The proposal, entitled the “U.S. Territorial Relief Act of 2018,” counts Democratic Sens. Kirsten Gillibrand (D-N.Y.), Edward J.
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Puerto Rico Gov. Ricardo Rosselló threatened to withhold testimony from a U.S. House committee later this month if lawmakers don’t apologize for a snide remark on Twitter, Bloomberg reported. At a press conference in San Juan, Rosselló said that the tweet in question — "Call your office, @ricardorossello" — was disrespectful toward him and the people of Puerto Rico.
MBIA Inc.’s National Public Finance Guarantee is urging Puerto Rico’s federal board to consider putting a receiver in charge of the island’s bankrupt power utility after the electricity provider lost two chief executive officers last week amid an uproar over their salaries, Bloomberg News reported.
Puerto Rico’s governor yesterday named a new executive director of the bankrupt Puerto Rico Electric Power Authority (PREPA), following the resignation of its former head and four of the utility’s seven-member board last week, Reuters reported.
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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.