House Judiciary Subcommittee Chairs Push back on White House Puerto Rico Proposal
Sharon Edmondson, Washington Legislative Team Member | October 23, 2015
House Judiciary Chair Bob Goodlatte, along with Regulatory Reform, Commercial, and Antitrust Law Subcommittee Chair Tom Marino, pushed back against the Obama administration's proposal to solve Puerto Rico's debt crisis.
"The administration's acknowledgment that Congress is the appropriate branch to exercise legislative authority on the matter is welcomed," the two said in a statement. "However, some of the recommendations raise serious concerns, such as the proposal to allow the entire territory of Puerto Rico to exercise bankruptcy powers similar to Chapter 9."
"We will take all the Administration's proposals under advisement and will continue our ongoing and productive dialogue with Congressman Pierluisi, the government of Puerto Rico, creditors, investors, other interested parties, our members, and the Administration as we further evaluate the best steps forward for Puerto Rico's economic recovery," the two said in a statement.