House Tackles Puerto Rico Debt
The legislation addresses the “economic and humanitarian crisis” afflicting the island.
WASHINGTON, D.C. — The U.S. House of Representatives on Thursday approved a bill intended to help Puerto Rico with its debt crisis.
The compromise .
“The bill now heads to the Senate, where lawmakers appear lukewarm about the measure,” . “Still, there is little evidence senators are eager to remake the bill wholesale, particularly as conditions on the island continue to worsen.”
The Commonwealth of Puerto Rico is a U.S. territory.
Rep. Tulsi Gabbard of Hawaii, a Democrat, voted in favor of the House measure, called the Puerto Rico Oversight, Management and Economic Stability Act.
“Make no mistake — the PROMESA Act is not a perfect bill,” said Gabbard. “Unfortunately, the alternative to passing the PROMESA Act is worse. If Congress does nothing, Puerto Rico’s future will be placed in the hands of a federal judge negotiating with expensive lawyers representing hedge funds and creditors.”
Hawaii’s other representative, Democrat Mark Takai, was absent from the vote along with 10 other members.
