Top Treasury Department and Puerto Rican officials are begging the Senate to move quickly on a bill to help the commonwealth handle more than $70 billion in unpayable debt.
Funding for public services in Puerto Rico is drying up under the commonwealths shrinking economy and lack of access to credit markets, so leaders are pushing the Senate to clear a House-passed bill before a crucial debt payment that is due July 1.
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We need the bill by July 1, Puerto Rico Gov. Alejandro García Padilla (D) said during a Thursday panel hosted by the progressive Center for American Progress Action Fund. We need the bill yesterday.
Senate Majority Leader Mitch McConnell
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Read the full article at: http://thehill.com/policy/finance/banking-financial-institutions/284638-puerto-rican-officials-push-senate-to-pass-debt