Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Puerto Rico rescue falters under attack by conservatives, investors
Source: Reuters
Politics | Fri Apr 15, 2016 6:09pm EDT
Puerto Rico rescue falters under attack by conservatives, investors
WASHINGTON | BY PATRICK RUCKER AND RICHARD COWAN
An aggressive advertising and lobbying campaign by conservative activists and financial interests this week stalled a plan in the U.S. Congress to rescue Puerto Rico from crippling debt, while lawmakers adjourned on Friday with no clear path forward.
As its economy reels and basic services are threatened, the U.S. island territory is pleading for help from Washington, but lawmakers have been unable to formulate a response, or even estimate when they might be able to advance a legislative fix.
Puerto Rico is staring down a May 1 deadline for paying about $422 million to Government Development Bank bondholders.
With that as a backdrop, the Republicans who control the U.S. House of Representatives huddled privately for 90 minutes on Friday to hear ideas, then decided to go home.
"There may be different ways to fix a problem that may include doing nothing and allow it to work through the court system," conservative Republican Representative Mick Mulvaney, of South Carolina, told reporters following the meeting.
[font size=1]-snip-[/font]
Puerto Rico rescue falters under attack by conservatives, investors
WASHINGTON | BY PATRICK RUCKER AND RICHARD COWAN
An aggressive advertising and lobbying campaign by conservative activists and financial interests this week stalled a plan in the U.S. Congress to rescue Puerto Rico from crippling debt, while lawmakers adjourned on Friday with no clear path forward.
As its economy reels and basic services are threatened, the U.S. island territory is pleading for help from Washington, but lawmakers have been unable to formulate a response, or even estimate when they might be able to advance a legislative fix.
Puerto Rico is staring down a May 1 deadline for paying about $422 million to Government Development Bank bondholders.
With that as a backdrop, the Republicans who control the U.S. House of Representatives huddled privately for 90 minutes on Friday to hear ideas, then decided to go home.
"There may be different ways to fix a problem that may include doing nothing and allow it to work through the court system," conservative Republican Representative Mick Mulvaney, of South Carolina, told reporters following the meeting.
[font size=1]-snip-[/font]
Read more: http://www.reuters.com/article/us-puertorico-debt-congress-idUSKCN0XC2RU
1 replies
= new reply since forum marked as read
= new reply since forum marked as read
