Before passage, the House approved an amendment giving priority to protecting federal taxpayer investments in Puerto Rico, such as mass transportation assets. Representative Raul Grijalva, like many Democrats, criticized major elements of the bill but argued it was the best possible in the Republican-controlled Congress. “The oversight board is too powerful and is yet another…
WASHINGTON Following months of internal wrangling, the U.S. House of Representatives, on Thursday passed legislation creating a federal control board to help Puerto Rico cope with crippling debt that is wreaking havoc throughout the island’s economy. By a vote of 297-127, the House approved the bill, sending it to the Senate for consideration. Some leading…
Picture a scenario whereby you arrive home one rainy day to discover a leak in your roof has left a small pool of water in your hallway. Thankfully it’s only a small leak, so there’s not too much damage to your ceiling and floor. The weather clears away overnight to a clear sunny day, so…