Two Democratic lawmakers yesterday said they will actively work to significantly change or sink a House bill to give Puerto Rico debt restructuring tools, MorningConsult.com reported. Sen. Robert Menendez of New Jersey and Rep. Luis Gutiérrez of Illinois said that the current legislation, H.R.
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U.S. lawmakers yesterday backed a plan to help Puerto Rico escape crippling debt and expand the economy, a move that could put a rescue before the House of Representatives within days, Reuters reported. The House Natural Resources Committee endorsed the plan by a 29-10 vote and left intact most provisions endorsed by House Speaker Paul Ryan.
The House Committee on Natural Resources will continue its hearing today at 10 a.m. ET today to markup H.R. 5278, the “Puerto Rico Oversight, Management, and Economic Stability Act” (PROMESA). For a live webcast of the hearing, please click here.
The agreement on May 19 between House Speaker Paul D. Ryan (R-Wis.) and the Obama administration on a measure to help Puerto Rico out of its debt crisis presents an obvious and urgently needed plan for the territory, according to a Washington Post editorial on Friday.