Posts Tagged: Richard Blumenthal

Trump and Ryan Agree: Puerto Rico Needs Restructuring Authority, No Bailout

Although House Speaker Paul Ryan (R-WI) has refused to endorse Donald Trump for president at this time, there is at least one issue on which the two Republican leaders agree:  restructuring Puerto Rico’s debt. “I think you could restructure [Puerto Rico’s] debt without a bailout,” the presumptive Republican presidential nominee said on Fox News Thursday, as also… Read more »

Borinqueneers to be Honored at Capitol

After years of grassroots efforts, the Congressional Gold Medal will be awarded to the U.S. Army’s 65th Infantry Regiment, the Borinqueneers, Wednesday, April 13th, 2016, at 3:00 p.m. in Emancipation Hall in the U.S. Capitol building. The Borinqueneers sprang from the first volunteer regiment established in Puerto Rico in 1899. They were officially established in… Read more »

Cantwell, Reid Turn to McConnell for Action on Puerto Rico

Senator Maria Cantwell, (D-WA), Ranking Member of the Senate Energy and Natural Resources Committee, and Senate Minority Leader Harry Reid (D-NV) were joined by 44 of their Democratic colleagues in a letter to Senate Majority Leader Mitch McConnell demanding action on Puerto Rico’s fiscal problems. “We write to you with concern for the 3.5 million… Read more »

Blumenthal: The Day of Reckoning Is Here

Richard Blumenthal’s speech: My visit to Puerto Rico to the association headquarters of the Borinqueneers—members of generations who have fought for this country, veterans of our wars, who had visited the White House to receive the Congressional Medal that we in this body voted to award them because of their service to our Nation. It… Read more »

Speaker Ryan Pledges to Resolve Puerto Rico’s Fiscal Crisis by March 31st

U.S. House of Representatives Speaker Paul Ryan late this afternoon said that he was “instructing” House committees to “work with the Puerto Rican government to come up with a responsible solution” to “Puerto Rico’s fiscal crisis” by March 31st. As first reported in the Hill, Ryan made it clear that this would not include broad authority… 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 »

U.S. Congressional Committee Holds 5th Puerto Rico-Related Hearing of 2015

The U.S. Senate Committee on the Judiciary, chaired by Senator Chuck Grassley (R-IA), held a hearing today on the fiscal problems plaguing the U.S. territory of Puerto Rico. The hearing was called to order by Chairman Grassley who expressed in his opening statement hope that the committee would “have a valuable discussion based on facts,… Read more »

Menendez Leads Senate in Introducing Tax Legislation to Help Puerto Rico

U.S. Senator Bob Menendez (D-NJ) has introduced the “Earned Income Tax Credit and Child Tax Credit Equity for Puerto Rico Act,” which would extend the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC) to all eligible families in Puerto Rico. The initiative is similar to a proposal introduced by the Obama administration… Read more »

Chapter 9 for Puerto Rico:  Momentum and Myths

While the U.S. Treasury Department and the administration of Gov. Alejandro Garcia Padilla are actively engaged in conversations over possible federal administrative reforms to improve Puerto Rico’s fiscal situation, momentum has similarly increased on Capitol Hill to push forward legislative solutions. On September 30, 2015, the Senate’s third-ranking Democrat and future Democratic leader, Sen. Chuck… Read more »