Quantcast
Connect with us

Puerto Rico debt bill cleared for Thursday House vote

Published

on

Legislation to help Puerto Rico dig out of its $70 billion debt crisis is set for a vote in the U.S. House of Representatives on Thursday after a House panel fended off attempts to open the bill to a series of controversial amendments.

By a voice vote on Wednesday, the Rules Committee, the gatekeeper for all bills moving through the House, sent the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) to the full House for debate and a likely vote on Thursday.

The legislation, which is the result of months of negotiations between Congress and the Obama administration, would create a federal oversight board to work with investors to determine how much they would recover of the island territory’s $70 billion in loans.

Republicans have stressed that no taxpayer money would be used to bail out Puerto Rico from a crisis that has left nearly half of the population in poverty amid closings of schools and hospitals and a contracting economy.

During a Rules panel debate that stretched into the night, the committee rejected pleas to allow amendments that would have changed the basic structure of the legislation and the operation of the oversight board.

ADVERTISEMENT

If the bill passes the House, action would then move to the Senate, where some leading Democrats have said they would seek significant changes to the legislation.

Earlier on Wednesday, House Natural Resources Committee Chairman Rob Bishop, who ushered the bill through his committee on May 25, told reporters he expected the full House to pass it on Thursday.

Bishop, a Utah Republican, said a strong vote of support for passage in the House would help propel it through the Senate.

ADVERTISEMENT

“The bottom line is the better the vote here (in the House), the less likely it’s going to come back in a significantly altered form” from the Senate, Bishop said.

(Reporting by Richard Cowan; Editing by Eric Beech and Andrew Hay)


Report typos and corrections to [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Facebook

Republican analyst says Trump is ‘threatened by’ being challenged by women: ‘It hurts his ego’

Published

on

According to one Republican commentator, President Donald Trump's decision to lash out at four Congresswomen of color stems from his inability to handle being challenged by women.

In a segment with MSNBC host Ali Velshi, Rina Shah, who runs Republican Women for Progress, said that she's been the target of racist attacks from Trump supporters ever since she announced she wouldn't support him.

"I believe that what this president is doing is fanning the flames," she said. "He cannot denounce white supremacy, white nationalism. This is a moment in which he could have kept his mouth shut. You know, this tit-for-tat with [Speaker Nancy] Pelosi (D-CA) and 'The Squad,' he didn’t need to engage in it. If I was advising the president, if I were one of his advisers, I would have said stay out of it. But he doesn't listen to anyone around him."

Continue Reading

Facebook

Mitt Romney blames democratic women for Trump’s racism: Their views ‘are not consistent with my experience’

Published

on

Little more than six months ago Senator-elect Mitt Romney (R-UT) promised voters he would "speak out" against President Donald Trump's racism. On Monday, Senator Mitt Romney blamed the targets of President Donald Trump's two-day racism fest for the President's own racism.

"I will speak out against significant statements or actions," by President Trump, "that are divisive, racist, sexist, anti-immigrant, dishonest or destructive to democratic institutions," Romney said in a New Year's Day 2019 Washington Post op-ed.

Continue Reading
 

Facebook

Facebook needs ‘very high standard’ for Libra coin: Mnuchin

Published

on

Facebook will need to meet "a very high standard" before it moves ahead with its planned digital currency Libra, US Treasury Secretary Steven Mnuchin said Monday.

Mnuchin said US regulators have already expressed concerns to Facebook about the plan for a global cryptocurrency, noting that these kinds of virtual coins have in the past been associated with money laundering and illicit activities.

"Whether they're banks or non-banks, they're under the same regulatory environment," Mnuchin told reporters at the White House, adding that Facebook "will have to have a very high standard before they have access to the financial system."

Continue Reading
 
 
 

Copyright © 2019 Raw Story Media, Inc. PO Box 21050, Washington, D.C. 20009 | Masthead | Privacy Policy | For corrections or concerns, please email [email protected]

close-image