WASHINGTON (AP) The House is slated to vote Thursday on legislation that would help rescue Puerto Rico from its $70 billion debt. Some of the provisions in the bill:
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CONTROL BOARD: A seven-member board appointed by Congress and the president would help Puerto Rico get its finances in order, similar to a board that helped guide the District of Columbia through a fiscal crisis two decades ago. The territorys government would have to create a fiscal plan and submit budgets to the board. In some cases, the board could override the territorial government.
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FISCAL PLANS: The board and the territorial government would develop detailed fiscal plans intended to achieve fiscal responsibility and eventual acce…
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