A bill establishing a legal framework for Puerto Rico to restructure its $72 billion debt load passed the House by a 297-127 vote after months of haggling among the Obama administration, Democrats, bondholders, unions, Puerto Rico officialsand conservatives.
About the only thing conservatives agree on about legislation the House passed Thursday night providing rescue to Puerto Ricos debt crisis is that its not a bailout.
There are good reasons to be for the bill, and there are good reasons to be against the bill, but this is not a bailout, said Rep. Mick Mulvaney, R-S.C., referencing the fact that Congress solution does not include federal taxpayer money for Puerto Rico. I certainly dont want to see people saying I voted against …
Read the full article at: http://dailysignal.com/2016/06/10/house-passed-debt-relief-for-puerto-rico-splits-conservatives/