Puerto Rico Gov. Alejandro Garcia Padilla is continuing his campaign for congressional leaders to move forward with legislation that will give the U.S. commonwealth solutions for its debt and health crises.
Members of the Congressional Hispanic Caucus (CHC) have been working this week to address the financial and health care challenges affecting Puerto Rico.
Puerto Rico will take the next step in efforts to resolve its fiscal crisis on Jan. 29 by presenting investors with an offer to swap existing bonds for two new types of securities.
Puerto Rico's economic recovery working group released its comprehensive plan to save the commonwealth. The Working Group for the Fiscal and Economic Recovery of Puerto Rico published the Fiscal and Economic Growth Plan (FEGP), which include proposals for economic growth with reform measures.
A New York delegation wrapped up its one-day solidarity trip to Puerto Rico, where elected officials spoke with health and economic experts about the island's struggles.
Senate Democrats finally introduced legislation aimed to help Puerto Rico's $70 billion debt crisis.
Democratic Sens. Chuck Schumer of New York and Richard Blumenthal of Connecticut announced the "The Puerto Rico Chapter 9 Uniformity Act" (S. 1774), which would grant the island commonwealth the authority to allow its municipalities and public utilities to adjust their debts through bankruptcy court supervision.
With Puerto Rico facing $70 billion of debt, U.S. congressional lawmakers are attempting to introduce legislation granting the commonwealth to file for Chapter 9 bankruptcy.
Amid the troubling status of the Puerto Rican economy, the commonwealth's governor proposed a double-digit value-added tax in hopes to building the government's revenue.
