Not knowing how much cash the Government of Puerto Rico really has available makes determining fiscal plans for it difficult, Financial Oversight and Management Board Member Jose Ramon Gonzalez said after today’s Board hearing on the Government’s cash position. He added that the information was also needed to enable the Government to draw down loans… Read more »
The Puerto Rico Financial Oversight and Management Board “is actively working to assess how” the 10-year fiscal adjustment plans for the Government of Puerto Rico and several of its instrumentalities that it adopted “should change in the aftermath of Hurricanes Irma and Maria.” In a letter released Saturday, the Board wrote to eleven Democratic U.S. Senators… Read more »
The history of the relationship between opposing political parties in Puerto Rico has never been characterized as united. Politicians from the Commonwealth party and from the Statehood party usually do not agree on how to address important issues affecting the island. Through an initiative of Governor Ricardo Roselló, the “Frente por Puerto Rico” –… Read more »
The chairman of the congressional committee that originated PROMESA has asked the Puerto Rico fiscal control board put in place by the law to explain all future decisions in writing to the committee. The request by U.S. House of Representatives Natural Resources Committee Chairman Rob Bishop (R-UT) came in a letter that primarily complained about… Read more »
Puerto Rico Governor Ricardo Rossello (New Progressive Party) submitted a 10-year fiscal adjustment plan to Puerto Rico’s federally-imposed Financial Oversight and Management Board just before the midnight deadline last night. It begins by calculating the budget gap over the decade at $55.2 billion versus the $67.5 billion earlier cited by the Board, relying on numbers… Read more »
Alejandro García Padilla (Popular Democratic Party), the former governor of Puerto Rico, is a U.S. citizen, as are all people born in Puerto Rico. According to recent press reports, García Padilla is now also a Spanish citizen. This raises an interesting question: Can an individual be an American citizen and a citizen of another sovereign nation? According to the Consulate General… Read more »
The Puerto Rico Senate has delayed consideration of legislation calling for a federally-sponsored referendum on Puerto Rico’s political status. The bill, called “The Law for the Immediate Decolonization of Puerto Rico (S.B. 51), ” was introduced by Thomas Rivera Schatz, President of the Puerto Rico Senate. The proposal originally set the date for the next Puerto Rico plebiscite… Read more »
U.S. Health and Human Services Secretary nominee Tom Price told the Senate Finance Committee yesterday that the Federal government would have to find additional money for healthcare for low-income individuals in Puerto Rico. “We, absolutely, have to find the resources to make sure they have the health care they need . . . They are… Read more »
In 2014, Washington approved a $2.5 million appropriation for a new status plebiscite in Puerto Rico, the first federally funded vote on the Island’s status. Former governor Alejandro Garcia Padilla promised to hold the plebiscite in 2016, but this did not take place. Now, the Puerto Rico legislature is considering a bill to hold the… Read more »
Puerto Rico’s new Governor, Ricardo Rossello, has called for statehood for Puerto Rico. In the video clip above, he is quoted as saying that “the United States cannot pretend to be a model of democracy for the world while it discriminates against 3.5 million of its citizens in Puerto Rico, depriving them of their right… Read more »
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