Leaders of the Puerto Rico Private Sector Coalition signaled that the group’s lobbying efforts have made progress in convincing members of Congress and the White House to add a measure of “economic development authority” to the expected fiscal oversight board to be imposed on the Commonwealth government.
Leaders of Puerto Rico's Private Sector Coalition continued their push in Washington DC for the enactment of economic development measures for the commonwealth as the true way out of the fiscal crisis.
WASHINGTON — The prognosis for Puerto Rico’s health system is already critical and will only get worse if Congress doesn’t act fast, warned a panel of doctors and finance experts meeting on Capitol Hill this week.
Former Washington, D.C. Mayor Anthony A. Williams, who steered the nation’s capital from financial ruin to prosperity, told U.S. lawmakers Tuesday that solving the immediate fiscal crisis, while absolutely essential, will not alone be sufficient to bring Puerto Rico back to the position of economic self-sufficiency.
U.S. Senator Maria Cantwell (D-Wash.), ranking member of the Senate Energy and Natural Resources Committee, along with Minority Leader Harry Reid and 44 other Democrats and Independents in the Senate, wrote to Leader Mitch McConnell urging bipartisan, legislative action to give Puerto Rico access to the appropriate financial restructuring tools.
The Subcommittee on Indian, Insular and Alaska Native Affairs of the U.S. House Natural Resources Committee will hold a hearing on Jan. 26, to analyze Puerto Rico’s fiscal crisis.
Recent news coverage about Puerto Rico has focused on its high public debt and imminent default while, in U.S. Congress, powerful lobbies seem to hold more sway over Puerto Rico’s future than do more than 8 million U.S. citizens.
WASHINGTON — A restructuring deal between the deeply indebted Puerto Rico Electric Power Authority and most of its creditors came under scrutiny during a Tuesday oversight hearing here by the House Subcommittee on Energy and Mineral Resources.
In a letter to Senate Republican leader Mitch McConnell, Nevada Senator Harry Reid on Tuesday called on Republicans to work with Democrats to address the deepening debt crisis facing Puerto Rico.
WASHINGTON — Vowing he’d refuse to support legislation “that does not respond to the needs of the people of Puerto Rico,” Rep. Luis Gutiérrez (D-Ill.) promised Tuesday he’d do everything in his power to help the island overcome its fiscal nightmare.
The Puerto Rico Government Development Bank announced today it has met its scheduled payments of $354 million in principal and interest after Gov. Alejandro García-Padilla instructed his fiscal team to redirect available revenues from other instrumentalities by activating contractual clawback provisions.
Senate Judiciary Committee Chairman Chuck Grassley said Thursday that he will convene a hearing on the Puerto Rico fiscal situation on Dec. 1., in Washington D.C.
Legislation authored by Rep. Nydia M. Velázquez (D-NY) aims to significantly strengthen reporting requirements for hedge funds, large privately organized, pooled investment vehicles not available to the public whose primary investors are wealthy individuals or institutions.
WASHINGTON — The two most prominent progressives in the U.S. Senate urged the federal government Thursday to help Puerto Rico stand up against the “vultures” they largely blame for the island’s current fiscal nightmare.
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.
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