After President Donald Trump floated the idea that he may "wipe out" Puerto Rico's debt, a closer look at the House's disaster spending package reveals the government is likely to add to their $73 billion financial burden.
A report on the House Republicans' $35.6 billion relief bill by The Intercept shows that of that total, $5 billion is earmarked for Puerto Rico specifically-- in the form of yet another loan.
While the relief bill would allocate another $13.58 billion to restore FEMA's disaster relief fund, that money will be split by Texas, Florida, Puerto Rico and the U.S. Virgin Islands at FEMA's discretion.
The bill does "wipe out" some debt, but not for Puerto Rico -- it also cancel $16 billion owed by the National Flood Insurance Program that Trump infamously slashed prior to Hurricane Harvey's landfall.
