Posts Tagged: Orrin Hatch

Sen. Marco Rubio Eager to Get Started on Economic Growth Task Force

Senator Marco Rubio (R-FL) will serve on the bipartisan Congressional Task Force for Economic Growth in Puerto Rico, which was established by PROMESA, the Puerto Rico Oversight, Management, and Economic Stability Act. “Congress has a responsibility to create the conditions that will spur job creation, reduce poverty and drive investment in the island,” NBC News… Read more »

Congressional Committee Considers Puerto Rico Legislation Today

The U.S. House of Representatives Committee on Natural Resources held a short session late yesterday to begin the first part of its consideration of the bill on Puerto Rico fiscal matters worked out by Republican leaders with the U.S. Treasury Department and Democratic leaders last week, the Puerto Rico Oversight, Management and Economic Stability Act (H.R. 5278),… Read more »

US Senate Finance Chair Calls for Transparency and Good Faith Negotiations

  On Friday afternoon, Senate Finance Committee Chairman Orrin Hatch (R-UT),  spoke on the Senate floor critical of Democrats, the Obama Administration, and Governor Alejandro Garcia Padilla (PDP) for the lack of progress in addressing Puerto Rico’s fiscal and economic problems. He recalled numerous information requests to U.S. Treasury Department Secretary Jacob Lew, Health and Human… Read more »

Sen. Hatch to Introduce Legislation to Address Puerto Rico Fiscal Problems

U.S. Senate Finance Committee Chairman Orrin Hatch (R-UT) disclosed today that he will introduce a new bill to address Puerto Rico’s fiscal problems. “I’m trying to get this done before the end of March” he said during a Committee hearing on President Obama’s Fiscal Year 2017 Budget sent to the Congress yesterday. With the Obama… Read more »

Obama Budget Proposes $32.5 billion for Puerto Rico

President Obama released today a budget for the fiscal year that begins October 1st that includes new assistance for Puerto Rico estimated to be at least $32.5 billion over 10 years. The amount in the Fiscal Year 2017 Budget proposal sent to the Congress today could be as much as more than $34 billion, depending… Read more »

Hatch: “I Intend to See that We Help Puerto Rico”

Senate Finance Committee Chairman Orrin Hatch (R-UT)  summed up his Committee’s activities related to Puerto Rico in a floor speech on December 17, 2015 in which he also laid out his plans for 2016: [W]ith regard to the looming debt crisis in Puerto Rico. We have taken a close look at this issue in the committee,… Read more »

Senate Proposal Calls for U.S. Control in Puerto Rico

Two bills to resolve the financial problems of Puerto Rico were introduced by Republicans in the U.S. Congress yesterday. The legislative proposals were introduced after Senate Republicans blocked a move by Senator Charles Schumer (D-NY) to grant the territory the authority of a State to enable insolvent instrumentalities to restructure debts under Federal Bankruptcy Code Chapter… Read more »

Senate Finance Chair Asserts that Details on Puerto Rico’s Financial Health Needed Before Congress Can Act

In speech on the Senate floor today, Senate Finance Committee Chairman Orrin Hatch (R-UT) outlined his concerns regarding several proposals designed to address Puerto Rico’s fiscal and economic problems and emphasized that Congress must first have access to clear and comprehensive information regarding the territory’s financial health before taking federal action. “We need everyone involved to be upfront and willing to… Read more »

Senate Hearing on Puerto Rico Underscores the Need for Action

The U.S. Senate Committee on Energy & Natural Resources held a hearing today on the Puerto Rican economic crisis, the territory’s unsustainable debt and options for Congressional action. Committee Chair Lisa Murkowski (R-AK) called the hearing to order by reiterating a point made by Senator Orrin Hatch (R-UT) at the Senate Finance Committee hearing held last… Read more »

U.S. Senate Finance Committee: No Quick Fix to Puerto Rico’s Fiscal Problems

The U.S. Senate Finance Committee held a hearing this morning on financial and economic challenges in Puerto Rico. The committee heard testimony from Resident Commissioner Pedro Pierluisi, President of the Government Development Bank of Puerto Rico Melba Acosta, President of the American Action Forum (and former director of the Congressional Budget Office) Douglas Holtz-Eakin, and… Read more »