The proposal is consistent with the Puerto Rico Electric Power Authority’s fiscal plan, which reduces the fossil fuel budget by $400 million to $500 million per year to bring the utility out of bankruptcy.
Velázquez has introduced the “Access to Sufficient Capital for Everyone in Natural Disaster Areas Act of 2018,” (ASCEND Act) a bill that would extend SBA disaster loan applications for an additional year.
A bill was recently submitted to the Puerto Rico Senate to ensure that funds received by the commonwealth’s 9-1-1 Emergency System are not diverted for other purposes, in accordance with federal regulations.