During negotiations of the omnibus budget deal at the end of 2015, House Republican Speaker Rep. Paul Ryan (R-WI) promised House Democrat Leader Rep. Nancy Pelosi that Congress would consider legislation to grant the Island with bankruptcy protection from its debts. The tentative deadline to begin action was March 31 .... http://www.breitbart.com
Wednesday, April 13, 2016
Congress Prepares Puerto Rico Bailout as Island Governor Suspends Debt Payments
Congress is expected to begin consideration of federal legislation to grant Puerto Rico extraordinary powers to escape a looming debt crisis. The island territory, home to just 3 million people, is faced with a massive $70 billion debt burden.
During negotiations of the omnibus budget deal at the end of 2015, House Republican Speaker Rep. Paul Ryan (R-WI) promised House Democrat Leader Rep. Nancy Pelosi that Congress would consider legislation to grant the Island with bankruptcy protection from its debts. The tentative deadline to begin action was March 31 .... http://www.breitbart.com
During negotiations of the omnibus budget deal at the end of 2015, House Republican Speaker Rep. Paul Ryan (R-WI) promised House Democrat Leader Rep. Nancy Pelosi that Congress would consider legislation to grant the Island with bankruptcy protection from its debts. The tentative deadline to begin action was March 31 .... http://www.breitbart.com