The Puerto Rico financial control board in a closed meeting late yesterday rejected both the $9.256 billion budget for the territory’s central government for the fiscal year beginning Saturday and the debt restructuring agreement for the Electric Power Authority (PREPA). Both had been approved by the islands’ elected leaders, with the PREPA debt deal also… Read more »
Puerto Rico’s most recent plebiscite, held June 11, had a very clear outcome: 97% of voters chose statehood from the territory’s three status options (nationhood in addition to territory status and statehood). The islands’ political factions supporting nationhood and an unprecedented “Commonwealth status” that Federal officials have said is impossible for constitutional reasons had campaigned… Read more »
The Puerto Rico Financial Oversight and Management Board (FOMB), created by the PROMESA law, has been the subject of a number of complaints and concerns from members of the U.S. Congress. There have also been complaints about the board directed to the U.S. Congress. On June 15, Congressman Rob Bishop (R-UT), Chairman of the House… Read more »
As results of the June 11 plebiscite vote have reached Washington this week, a number of congressional leaders have made statements or joined Gov. Rosselló in his visit to the nation’s capital. U.S. Senator Ron Wyden (D-OR), a former chairman of the Senate Energy and Natural Resources Committee and the current highest ranking Democrat on… Read more »
Puerto Rico’s most recent plebiscite, held June 11, had a very clear outcome: 97% of voters chose statehood from the three options on the ballot. However, the opposition parties had encouraged a boycott of the referendum and are now trying to discredit the vote, which had a low turnout. In fact, the voting turnout percentage… Read more »
Rep. Tom MacArthur (R-NJ) has introduced HR 2429, the Puerto Rico Task Force Economic Empowerment Act, in the House of Representatives. The comprehensive bill includes measures designed to “support businesses in Puerto Rico, improve health funding for Puerto Rico, and promote security in Puerto Rico.” An important part of the proposal is a set of measures… Read more »
Rep. Nydia M. Velázquez (D-NY), who is the lead Democrat on the House Small Business Committee, has introduced a new bill, “The Puerto Rico Small Business Assistance Act,” designed to spur small business growth and entrepreneurship in Puerto Rico.” “We’ve seen time and again throughout the U.S. how entrepreneurship can be a path out of… Read more »
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