Posts Tagged: Jose Carrion III

Senators and Board Discuss PROMESA

On April 7, two U.S. Senators, Tom Cotton (R-AR) and Thom Tillis (R-NC), wrote a letter to the PROMESA fiscal oversight management board [FOMB] expressing concern that the Fiscal Plan for Puerto Rico is not compliant with the Puerto Rico Oversight Management and Economic Stability Act (PROMESA). The letter went on to list those concerns:… Read more »

American Enterprise Institute Examines Puerto Rico’s Fiscal Crisis

As Puerto Rico Governor Ricardo Rosselló petitioned the fiscal oversight board today for relief under Title III of PROMESA (which the board of approved), the American Enterprise Institute was hosting a conference titled “Puerto Rico’s ongoing economic crisis.” The discussion on economic reform options for Puerto Rico to revitalize its economy and restore order to its public… Read more »

Congress Examines PREPA Agreement, Other Fiscal Challenges Facing Puerto Rico

On March 22, 2017, the Subcommittee on Indian, Insular and Alaska Native Affairs of the U.S. House of Representatives Committee on Natural Resources held a hearing on the status of the Puerto Rico Electric Power Authority (PREPA) Restructuring Support Agreement (RSA). Subcommittee Chair Doug LaMalfa (R-CA) convened the hearing by reminding all parties of looming… Read more »

Witnesses Announced for March 22 Hearing on PREPA

The Subcommittee on Indian, Insular and Alaska Native Affairs of the U.S. House of Representatives has released its list of witnesses for its oversight hearing, “The Status of the Puerto Rico Electric Power Authority (PREPA) Restructuring Support Agreement,” which will be held at 10:00 am tomorrow. Puerto Rico Gov. Ricardo Rosselló will appear on the first panel,… Read more »

Gonzalez-Colon Calls on PROMESA Board to Speak Out on Healthcare Funding

Jenniffer Gonzalez-Colon, Resident Commissioner of Puerto Rico, wrote to Jose Carrión, chair of the PROMESA fiscal oversight board, “I am writing to reiterate my request that you advise the Congress and the President of the United States of the need to replace the Federal funding for healthcare for low-income individuals that Puerto Rico will have… Read more »

PROMESA Board Approves Amended Fiscal Plan

Updated at 3/13  1:51 pm Puerto Rico’s fiscal board, created through the enactment of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), voted unanimously this morning to certify Puerto Rico Governor Ricky Rossello’s fiscal plan, provided that two amendments are made. One amendment would institute the Board’s earlier proposal for furloughing most government employees… Read more »

Governor Rossello Responds to PROMESA Board

Puerto Rico Governor Ricardo Rosselló sent a letter this week to PROMESA Board Chairman José Carrión outlining the actions he has taken so far and the actions he plans to take to address Puerto Rico’s debt crisis. Rossello’s letter began by expressing some degree of agreement, but also taking a stand on points of disagreement:… Read more »

Board, Gov-Elect Change Puerto Rico Fiscal Plan

Puerto Rico Financial Oversight and Management Board members and New Progressive Party (PNP) leaders elected last month to take over the reins of the territorial government early next month made clear earlier this week their intent to, first, adopt a more fiscal adjustment plan focusing more on local reforms than that submitted by Governor Alejandro… Read more »

Puerto Rico Governor Refuses to Revise Fiscal Plan

Puerto Rico Governor Alejandro Garcia Padilla (Popular Democratic Party/PPD) this morning refused to amend the fiscal adjustment plan that he submitted to the territory’s federally-imposed Financial Oversight and Management Board five weeks ago. The refusal contradicts the Federal PROMESA law that the Governor sought, which established the Board and gave the panel overriding control of… Read more »