Posts Categorized: Top Stories

Menendez Leads Senate in Introducing Tax Legislation to Help Puerto Rico

U.S. Senator Bob Menendez (D-NJ) has introduced the “Earned Income Tax Credit and Child Tax Credit Equity for Puerto Rico Act,” which would extend the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC) to all eligible families in Puerto Rico. The initiative is similar to a proposal introduced by the Obama administration… Read more »

Senate Hearing on Puerto Rico Underscores the Need for Action

The U.S. Senate Committee on Energy & Natural Resources held a hearing today on the Puerto Rican economic crisis, the territory’s unsustainable debt and options for Congressional action. Committee Chair Lisa Murkowski (R-AK) called the hearing to order by reiterating a point made by Senator Orrin Hatch (R-UT) at the Senate Finance Committee hearing held last… Read more »

Senate Committee Chair Murkowski and Puerto Rico’s Status

The U.S. Senate Committee on Energy and Natural resources has scheduled a hearing for October 22 to consider Puerto Rico’s economy, debt, and options for Congress moving forward. Witnesses have not been announced. The Senate Finance Committee held a similar hearing on September 29th.  A broad range of issues was discussed, including Puerto Rico’s treatement… Read more »

Supreme Court Agrees to Hear Case Involving Puerto Rico’s Political Status

The Supreme Court announced yesterday that it will consider Puerto Rico vs. Valle, placing a case involving Puerto Rico’s political status on the Court’s agenda for the 2015-2016 term. In its petition for certiorary, the government of Puerto Rico argued that the case is “the most important case on the constitutional relationship between Puerto Rico and the United… Read more »

U.S. Senate Finance Committee: No Quick Fix to Puerto Rico’s Fiscal Problems

The U.S. Senate Finance Committee held a hearing this morning on financial and economic challenges in Puerto Rico. The committee heard testimony from Resident Commissioner Pedro Pierluisi, President of the Government Development Bank of Puerto Rico Melba Acosta, President of the American Action Forum (and former director of the Congressional Budget Office) Douglas Holtz-Eakin, and… Read more »

Witnesses Announced for U.S. Senate Finance Committee Hearing on Puerto Rico Financial and Economic Challenges

U.S. Senate Finance Committee Chairman Orrin Hatch (R-UT) has officially announced four witnesses who will testify at the hearing on Puerto Rican fiscal and economic challenges on Tuesday, September 29, 2015.  The witnesses are: The Honorable Pedro R. Pierluisi, Congressman for Puerto Rico, United States House of Representatives, Washington, DC  Ms. Melba Acosta, President, Government Development Bank… Read more »

U.S. Census Data Show Continued Decline in Puerto Rico’s Population

According to data released Thursday by the United States Census Bureau, Puerto Rico lost over 47,000 residents between July 1, 2013, and July 1 2014.  The data represent only the latest in a series of depressing numbers regarding the island’s declining population in the wake of a worsening fiscal crisis. The U.S. territory of Puerto… Read more »

Puerto Rico in the Media: The Governor’s Plan

Governor Alejandro Garcia Padilla of Puerto Rico unveiled his debt solution last week, and the internet is saying it’s impossible. Puerto Rico’s Debt: No Way Out, says the Economist. The respected economics journal shared an excerpt from its print edition online, summarizing the governor’s plan and saying, But the island’s many creditors, who hold debt from… Read more »

Clinton and Rubio Both to Campaign in Puerto Rico on Friday

Presidential candidates Hillary Clinton and Marco Rubio may or may not get to compete against each other in 2016, but they’re campaigning in Puerto Rico at the same time, if not exactly together. Why campaign in a territory where residents do not get to vote in presidential elections? First, Puerto Rico gets to vote in primaries and… Read more »