Comment on House GOP faces first vote on Puerto Rico bill

House GOP faces first vote on Puerto Rico bill

WASHINGTON (AP) — House Republicans are attempting to hold together a rare bipartisan deal to help Puerto Rico manage its crippling finances as a committee begins considering the legislation Wednesday. The bill to create a financial control board and restructure some of the U.S. territory's $70 billion debt has support from House Republican and Democratic leaders, as well as the Obama administration. Puerto Rico, which has struggled to overcome a lengthy recession, has missed several payments to creditors and faces a $2 billion installment — the largest yet — on July 1. Two government agencies have been under a state of emergency, and the economic crisis has forced businesses to close, driven up the employment rate and sparked an exodus of hundreds of thousands of people to the U.S.

 

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