(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…
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: __ 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…
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…
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…
By Reuters Published: 02:28 EST, 10 June 2016 | Updated: 02:28 EST, 10 June 2016 By Richard Cowan WASHINGTON, June 9 (Reuters) – The U.S. House of Representatives on Thursday was poised to pass legislation creating a federal control board to help Puerto Rico cope with a crippling debt that already is wreaking havoc throughout…
The House on Thursday overwhelmingly passed a rescue package for debt-stricken Puerto Rico, clearing a major hurdle in the ongoing effort to bring relief to the U.S. territory of 3.5 million Americans. The strong bipartisan vote was 297-127 for the legislation that would create a financial control board and allow restructuring of some of Puerto…
A worker takes off U.S and Puerto Rican flag after rally of U.S. Democratic presidential candidate Bernie Sanders in San Juan, Puerto Rico, May 16, 2016. Reuters/Alvin Baez The U.S. House of Representatives on Thursday moved toward passage of legislation creating a federal control board to…
The U.S. House of Representatives on Thursday was poised to pass legislation creating a federal control board to help Puerto Rico cope with a crippling debt that already is wreaking havoc throughout the island’s economy. Bolstered by rare bipartisan cooperation between the chamber’s Republicans and Democrats and a White House announcement of support earlier on…