Resident Commissioner Pedro Pierluisi introduced a bill Thursday that would authorize the U.S. Treasury Department to guarantee repayment of principal and interest on bonds to be issued in the future by the island’s bond-issuing public entities, but only if the agency certifies that the commonwealth has “demonstrated meaningful improvement in managing its public finances.”
Bronx Borough President Ruben Diaz Jr. on Thursday sent a letter, in conjunction with more than 100 elected officials from across the nation, demanding immediate action from Congress to enact legislation that will allow Puerto Rico to enter bankruptcy.
Resident Commissioner Pedro Pierluisi announced Tuesday that Senator Patrick Leahy of Vermont, the Ranking Democrat on the Senate Judiciary Committee, will cosponsor S. 1774.
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