Treasury Officials Meet with Puerto Rico Governor
Sharon Edmondson, Washington Legislative Team Member | October 16, 2015
The governor has been meeting with officials and senators from both sides of the aisle in an effort to sway favorable action.
The Treasury Department downplayed its power to assist in Puerto Rico's fiscal crisis and called on Congress to provide bankruptcy options to the island - at the same time that reports surfaced that the agency is considering expanding its role.
According to a Treasury statement, officials met with Puerto Rican Gov. Alejandro Garcia Padilla and discussed solutions that would put pressure on Congress to help the island restructure its $72 billion in debt. Meanwhile, a Treasury official said there were inaccuracies in a Wall Street Journal report that the agency is considering aiding Puerto Rico by administering a "superbond" account that would aid in a restructuring.