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Tue Apr 12, 2016, 07:27 PM

Puerto Rico rescue debate postponed in U.S. Congress

Source: Reuters

Politics | Tue Apr 12, 2016 6:06pm EDT

Puerto Rico rescue debate postponed in U.S. Congress

Republican lawmakers on Tuesday canceled and then merely postponed a scheduled vote on a Puerto Rico rescue plan this week, as they try to craft compromise legislation that can win a majority in Congress.

The U.S. House of Representatives' Natural Resources Committee announced on Tuesday that it was canceling a law-writing session, known as a 'markup', that had been scheduled to begin Wednesday and go into Thursday.

But later on Tuesday, Congressional officials said the markup was scheduled for 5 p.m. EDT Wednesday, an hour postponement.

Republicans who control Congress have struggled to write legislation that would help Puerto Rico face roughly $70 billion of debt and a 45 percent poverty rate.

The most fiscally-conservative Republicans in Congress, though, have said they would not vote for legislation that did not have the Caribbean island squarely face its debt.

(Reporting By Patrick Rucker; Editing by Jonathan Oatis, Bernard Orr)


http://www.reuters.com/article/us-puertorico-debt-congress-idUSKCN0X92K0

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