The Puerto Rico Manufacturers Association will submit four specific proposals to the Congressional Task Force on Economic Growth in Puerto Rico addressing mechanisms to spur economic development on the island in different sectors, trade group President Rodrigo Masses announced Thursday.
Puerto Rico’s private sector has a one-month window — between Sept. 6 and Oct. 1 — to deliver their proposals to the Congressional Task Force on Puerto Rico to spur economic development initiatives for the island, former Republican Congressman Jerry Weller, said Tuesday.
Puerto Rico’s Resident Commissioner in Washington, Pedro Pierluisi, said Tuesday that U.S. House Speaker Paul Ryan could name the lawmaker who will steer the work of the Puerto Rico Congressional Task Force this week.
U.S. House Democratic Leader Nancy Pelosi has appointed Puerto Rico Resident Commissioner Pedro Pierluisi to the “Congressional Task Force on Economic Growth in Puerto Rico,” which was established by the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA).
The U.S. House of Representatives approved Monday legislation authored by U.S. Rep. Nydia M. Velázquez (D-NY) to close a decades-old loophole that has caused significant financial losses for many Puerto Rican investors and retirees.
Lobbying efforts both for and against the approval of the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) bill at the Senate gained steam in Washington Thursday, with public- and private-sector representatives making their case with U.S. Senators.
The House Committee on Financial Services approved Thursday legislation authored by U.S. Rep. Nydia M. Velázquez (D-NY) to close a decades-old loophole that has caused significant financial losses for many Puerto Rican investors and retirees.
Following an all-day session, the U.S. House passed H.R. 5278, known as the Puerto Rico Oversight, Management, and Economic Stability Act (“PROMESA”) on Thursday, with a bipartisan vote of 297-127 and a number of amendments.
H.R. 5278, also known as the “Puerto Rico Oversight, Management, and Economic Stability Act,” which seeks to establish an Oversight Board to assist the government of Puerto Rico and its agencies in managing its public finances, will move for a vote by members of the U.S. House Committee on Natural Resources today, when nearly two dozen amendments will be considered.
The U.S. House of Representatives submitted late Wednesday H.R. 5278, the “Puerto Rico Oversight, Management, and Economic Stability Act,” which includes several revisions to the original bill proposing an oversight board and a debt-restructuring framework for the island.
Puerto Rico Gov. Alejandro García-Padilla and members of the island’s private sector held meetings with key lawmakers in Congress, including U.S. House Speaker Paul Ryan, to discuss the bill that would address the Commonwealth’s fiscal crisis.
Center for a New Economy representatives on Thursday stressed the urgency for Congressional action, but cautioned that any bill approved in Washington must provide Puerto Rico with a debt restructuring mechanism “that will actually work.”
A broad segment of the Puerto Rican diaspora and local economic and social organizations met Thursday with House Speaker Jaime Perelló to identified critical areas that must be addressed jointly in Congress, as it shapes solutions for the island’s fiscal crisis.
Sen. Bob Menendez (D-NJ) announced Monday he will introduce a comprehensive legislative package to provide Puerto Rico a real path to solvency through comprehensive reforms, backed by three other lawmakers.
Looking to build a new “civic infrastructure” for Puerto Rico in the U.S. mainland, a Center for a New Economy will be opening offices in Washington, DC and New York to insert itself in the discussion of fiscal and other issues, the think tank’s President Mike Soto-Class said Thursday.
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