(Recasts with details of House passage, White House statement)
By Richard Cowan
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 Democratic senators have voiced concerns about
provisions, including one that potentially could reduce the
minimum wage for young Puerto Ricans.
But given the overwhelming support in the House and a
looming July 1 deadline for Puerto Rico to make a $1.9 billion
debt payment, senators may be hesitant to del…
Read the full article at: http://www.reuters.com/article/puertorico-debt-congress-idUSL1N1911GV