Puerto Rico Legislation to be Considered by U.S. House of Representatives Next Week

It appears increasingly likely that legislation to address Puerto Rico’s fiscal crisis will be voted on by the House of Representatives next week.

Earlier today, the House Rules Committee announced that it will meet next week to provide a structured amendment process for consideration of the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA).  The Committee further announced that all amendments must be submitted by Tuesday, June 7 at 10 am.

There were a number of amendments introduced during consideration of the bill by the House Natural Resources Committee on May 25 that were ruled out of order and not voted on because they fell outside the Natural Resources Committee jurisdiction.  These amendments – such as those dealing with tax law – will be relevant before the full House of Representatives.

With a crucial debt payment ahead for Puerto Rico on July 1, an attempt to save the U.S. territory from its fiscal crisis could is gaining in urgency.

If it passes the House of Representatives, Senate Majority Leader Mitch McConnell has indicated that the Senate would consider it.

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