Posts Tagged: Robert Menendez

U.S. Senate OKs Puerto Rico Investment Bill

Last night, the U.S. Senate passed a bill to end the exemption of investment firms in Puerto Rico and other U.S. territories that do exclusive business in those islands from the Investment Company Act of 1940, giving the SEC greater jurisdiction over their activities. Senator Robert Menendez (D-NJ) sponsored the bill with Sens. Orrin Hatch… Read more »

House Passes U.S. Territories Investor Protection Act

The U.S. House of Representatives passed legislation yesterday to require investment companies located in Puerto Rico and other U.S. possessions to adhere to federal registration requirements imposed by the Securities and Exchange Commission (SEC).  Current law exempts such companies from registration requirements with the SEC provided that their shares are sold solely to the residents of… Read more »

Congress’s Responsibility for Puerto Rico

On the floor of the United States Senate, Sen. Bernie Sanders (I-VT) was clear: “The United States of America should not treat Puerto Rico as a colony. We cannot and must not take away the democratic rights of the 3.5 million Americans of Puerto Rico and give virtually all power on that island to a 7-member board….This is not what… Read more »

Congressional Task Force on Economic Growth for Puerto Rico Urges Quick Action on Medicaid, Highlights Inequalities Between Puerto Rico and States

The Congressional Task Force on Economic Growth in Puerto Rico has released its final report, recommending legislation in early 2017 to address an impending Medicaid “cliff” on the island as well as an expansion of the federal Child Tax Credit (CTC) in Puerto Rico, a closer look at inequities throughout the federal government and careful consideration… Read more »

Congressional Task Force May Recommend New Federal Funds for Children

El Nuevo Dia is reporting this morning that the Congressional Task Force on Economic Growth for Puerto Rico has agreed to recommend and advance legislation in favor of full inclusion of residents of Puerto Rico in the Child Tax Credit (CTC). Rep. Nydia Velazquez has indicated that there will be draft legislation after Thanksgiving, according… Read more »

PROMESA Support: The Media

The following is the first in a series of posts regarding the bi-partisan effort that led to the enactment of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) as Public Law No: 114-187. On June 30, 2016 – one day before the U.S. territory of Puerto Rico was due to default on a… Read more »

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 »

The Value of Appointing Puerto Ricans on the Fiscal Oversight Board

Four U.S. senators — Robert Menendez (D-NJ),  Jeffrey Merkeley (D-OR), Cory Booker (D-NJ), and Bernie Sanders (I-VT) — wrote letters to the individuals charged with appointing members of the fiscal oversight board mandated in PROMESA, the new law to address Puerto Rico’s fiscal crisis.  The letters, one to the leaders of the house and senate,… Read more »

Senator Menendez Attempts to Bring Democracy to Puerto Rico

As the U.S. Senate considered the Puerto Rico Oversight, Management, and Economic Stability Ac (PROMESA), the new law intended to help Puerto Rico cope with the current fiscal crisis by creating a fiscal oversight board, Senator Robert Menendez of New Jersey offered the following amendment (SA 4908): Notwithstanding any other provision of law, during any period… Read more »

Menendez: Puerto Rico Is Getting a Raw Deal

Robert Menendez said this in his floor speech: I would hope to prick the conscience of the Senate about the 3.5 million U.S. citizens who just happen to live on the island of Puerto Rico and to do something before this crisis transforms into a full-blown human catastrophe. These 3.5 million Americans who call Puerto… Read more »