News & Press: Newswire

New Puerto Rico Bill to be Introduced on Wednesday

Monday, May 09, 2016   (0 Comments)
Posted by: Sharon Edmondson
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A new version of a bill to help Puerto Rico resolve its debt crisis will be introduced in the House on Wednesday.  For weeks, the House Natural Resources Committee's Republican staff has been working on legislation, which has faced opposition from Puerto Rico bondholders who have railed against the bill on the airwaves in congressional districts.

Last week, Puerto Rico failed to pay most of a $422 million debt payment that had come due. Congress has just a handful of weeks to find a  legislative fix to save the island from financial ruin ahead of a second default on a $2 billion debt payment due in early July.


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