Speaker Paul Ryan (R-WI) received a letter recently from John B. Larson (D-CT), Rosa DeLauro (D-CT), Joe Courtney (D-CT), Elizabeth H. Esty (D-CT), Jim Himes (D-CT), David Cicilline (D-RI), Peter Welch (VT), and Richard E. Neal (D-MA), urging the introduction of a legislative proposal that provides “immediate relief” to Puerto Rico’s fiscal problems and addresses “systematic challenges in federal programs.”
The letter begins, “We commend you for your efforts along with the other members of the Republican leadership and the relevant Committee chairmen to draft legislation by March 31st to address the economic crisis facing Puerto Rico, which is home to 3.5 million U.S. citizens.” The letter goes on to remind Ryan of the problems facing the Island, including the fact that “the impact of this crisis extends beyond just Puerto Rico.”
This is the introduction to a call for swift action, in the form of a new law that deals not only with the immediate debt crisis which has led to defaults already and may continue with future defaults, but also with the “underlying issues that have contributed to the current crisis.”
The specific issues discussed include
- A plan to allow Puerto Rico to restructure debts, either by extending chapter 9 bankruptcy protection to the territory, or through another mechanism. Congress can, in the view of the Treasury, create an Act without using chapter 9 that offers the ability to restructure.
- An oversight board, if needed, to help Puerto Rico get on track financially, with the stipulation that “it respects the voices of Puerto Rican citizens and the roles of their democratically elected leaders.”
- Recognition of the inequality in federal programs’ treatment of Puerto Rico and the States, with particular reference to Medicare, Medicaid, EITC and CTC programs.
“If this crisis is not addressed properly and expeditiously,” the letter concludes, “we risk further devastation to the Puerto Rican people and the Puerto Rican economy, as well as higher costs for U.S. taxpayers.”
These Democrats are scum.
They are only interested in getting votes for Hillary & themselves in November by pandering to the bailout /Chap 9 crowd.
Why won’t ONE OR ALL of those “concerned Democrats” introduce a bill of their own?
Why are they asking Ryan to do it for them?
So they can shoot down all Ryan/GOP proposals,even if they had the same idea.
A financial board that “listens to the elected (PPD) & “the People” (PPD) IS AN EMASCULATED TOOTHLESS BOARD!
IT’S A PERFORMANCE!!!
As usual, Democrats, just like their Puerto Rican “Popular Democrat Party” subsidiary IGNORED THE ISLAND’S POLITICAL STATUS while repeating PPD “parity without statehood” propaganda.
Because they are Democrats, and anything they introduce will be shot down by Republicans.
You mean like the original Pre Christmas 2015 GOP bill to give PR a quick $3 billion with Fed Oversight to help it limp along till March?
The Democrats opposed that one because it didn’t include a “Super Chapter9”.
Like I said,Politics. DEMS are following the PPD script. Dems won’t let GOP strike points & Vice versa.
I have visited PR 4 times. At once, I thought it would be a nice place to retire to. But then I found out I would lose a lot of my entitlements as a US citizen. Then, I found out about the fiscal crisis PR has. And there went my retirement dreams down the tubes.
Yes, the Unincorporated status (& the constant threat of Independence by US Congressional fiat granted under article IV of Territorial Clause ) as a result of “unincorporated Territory”,is the reason non Puerto Rican Americans won’t move to the island. Still it shouldn’t deter you from buying a small vacation home or cottage. If statehood ever comes, you own a gold mine.
Luis Arroyo is absolutely right. Alas, however, “Puerto Rican Americans” fail to realize that they ARE “Americans”! Consequently, statehood may never come.
I think it would be great to become the 51 state
but I notice that Puerto Rico wants to continue to do what ever they want by continuing to drain the US mainland if they don’t like US then they
US should drop them let them go independent that what they want problem solve. Personally why not!!!