January, 29 2016, 11:00am EDT
Puerto Rico Proposes Debt Plan
WASHINGTON
Puerto Rico's Government Development Bank is meeting with investors in New York to share new details around a bond exchange first proposed by the indebted island last year. The proposal is not being made public but sources say it will include a "superbond" that investors could purchase in exchange for existing debt. The plan takes into account that the US Territory's budget gap is $2 billion larger than expected. Puerto Rico owes $72 billion in total debt.
"Without bankruptcy protection, the only relief available to Puerto Rico now is through direct negotiations," stated Eric LeCompte, Executive Director of the religious development group Jubilee USA. "The debt needs to be sustainable and we can't support any solutions at the expense of pensions or social services."
The superbond proposal would allow investors to voluntarily exchange existing debt for one of two new types of securities. One type would eventually have a 5% interest rate after a 2-year moratorium on interest payments while the other would be pegged to Puerto Rico's economic health and would not pay out at all until 2026. The deal would not impact some of Puerto Rico's debt, including debt from the island's public utility which is involved in its own debt negotiations.
Congress is currently debating legislation that would grant Puerto Rico's municipalities access to Chapter 9 bankruptcy protection. The House Committee on Natural Resources will hold its second hearing on Puerto Rico on February 2 to discuss elements of those bills. Forty-six US Senators sent a letter to Senate Majority Leader Mitch McConnell calling for legislation that helps Puerto Rico restructure its debt. House Speaker Paul Ryan promises action by March 31.
"We are seeing some momentum around Puerto Rico bankruptcy proposals in Congress," noted LeCompte, who serves on United Nations debt expert groups. "Every day the situation gets worse on the island and economic growth is only possible after we find a comprehensive solution to the debt crisis."
Read a timeline of Puerto Rico's debt crisis
Read more about the service cuts resulting from Puerto Rico's debt crisis
Read more about legislation granting Puerto Rico Chapter 9 bankruptcy protection
Read the letter from 46 US Senators to Majority Leader McConnell
Jubilee USA Network is an interfaith, non-profit alliance of religious, development and advocacy organizations. We are 75 U.S. institutions and more than 750 faith groups working across the United States and around the globe. We address the structural causes of poverty and inequality in our communities and countries around the world.
(202) 783-3566LATEST NEWS
Trump Voter ID Threat Condemned as 'Unconstitutional'
"The Constitution gives this authority to the states and Congress, not you!" said the head of Democracy Defenders Fund, threatening a lawsuit.
Sep 01, 2025
US President Donald Trump continued his "authoritarian takeover of our election system" over the weekend, threatening an executive order requiring every voter to present identification, which experts swiftly denounced as clearly unconstitutional.
"Voter I.D. Must Be Part of Every Single Vote. NO EXCEPTIONS!" Trump wrote on his Truth Social platform late Saturday. "I Will Be Doing An Executive Order To That End!!! Also, No Mail-In Voting, Except For Those That Are Very Ill, And The Far Away Military. USE PAPER BALLOTS ONLY!!!"
That post came less than two weeks after Trump declared on the platform that "I am going to lead a movement to get rid of MAIL-IN BALLOTS, and also, while we're at it, Highly 'Inaccurate,' Very Expensive, and Seriously Controversial VOTING MACHINES." He claimed, without evidence, that voting by mail leads to "MASSIVE VOTER FRAUD," and promised to take executive action ahead of the 2026 midterms.
Those posts came as battles over his March executive order (EO), "Preserving and Protecting the Integrity of American Elections," are playing out in federal court. The measure was largely blocked by multiple district judges, but the president is appealing.
Trump's voter ID post provoked a new threat of legal action to stop his unconstitutional attacks on the nation's election system.
"Go ahead, make my day Mr. Trump," said Norm Eisen, who co-founded Democracy Defenders Fund and served as White House special counsel for ethics and government reform during the Obama administration.
"We at Democracy Defenders Fund immediately sued you and got an injunction on your first voting EO," he noted. "We will do the same here if you try it again. The Constitution gives this authority to the states and Congress, not you!"
In addition to pointing out that Trump is "an absentee voter himself," Democracy Docket explained Sunday that "the US Constitution gives the states the primary authority to regulate elections, while empowering Congress to 'at any time by Law make or alter such Regulations.' The Framers never considered authorizing the president to oversee elections."
According to the National Conference of State Legislatures: "Thirty-six states have laws requesting or requiring voters to show some form of identification at the polls. The remaining 14 states and Washington, DC, use other methods to verify the identity of voters."
Those laws already prevent Americans from participating in elections, according to the Brennan Center for Justice at New York University School of Law.
"Overly burdensome photo ID requirements block millions of eligible American citizens from voting," the center's voter ID webpage says. "As many as 11% of eligible voters do not have the kind of ID that is required by states with strict ID requirements, and that percentage is even higher among seniors, minorities, people with disabilities, low-income voters, and students."
Keep ReadingShow Less
Israel's Actions in Gaza 'Meet the Legal Definition of Genocide,' Say Leading Scholars
The resolution is "a definitive statement from experts in the field of genocide studies that what is going on on the ground in Gaza is genocide," said the president of the International Association of Genocide Scholars.
Sep 01, 2025
Israel's actions in Gaza "meet the legal definition of genocide," an overwhelming majority of the world's leading scholars on the subject said on Monday.
The International Association of Genocide Scholars (IAGS) has passed a three-page resolution that outlines a wide range of Israeli actions that it says constitute genocide, including deliberate attacks against civilians, starvation, deprivation of humanitarian aid, sexual violence, and forced displacement of the population.
In addition to the actions of the Israeli military, the resolution also references statements by high-level Israeli government officials as proof of genocidal intent.
Specifically, the resolution cites "Israeli governmental leaders, war cabinet ministers, and senior army officers" who "have made explicit statements of 'intent to destroy,' characterizing Palestinians in Gaza as a whole as enemies and 'human animals' and stating the intention of inflicting 'maximum damage' on Gaza, 'flattening Gaza,' and turning Gaza into 'hell.'"
The scholars also note Israeli officials' support for a plan floated by US President Donald Trump to expel all Palestinians from Gaza, which they contend "amounts to ethnic cleansing."
The resolution, which passed with the support of 86% of IAGS members who voted on it, concludes by calling on the Israeli government to stop all genocidal actions in Gaza; comply with the provisional measures orders issued earlier this year by the International Court of Justice; and "support a process of repair and transitional justice that will afford democracy, freedom, dignity, and security for all people of Gaza."
Melanie O'Brien, president of IAGS and professor of international law at the University of Western Australia, told The Guardian that the scholars' resolution is "a definitive statement from experts in the field of genocide studies that what is going on on the ground in Gaza is genocide."
The IAGS resolution comes just a little more than a week after the United Nations-backed Integrated Food Security Phase Classification Initiative (IPC) declared a famine in Gaza that it warned was projected to get even worse in the coming weeks.
"Between mid-August and the end of September 2025, conditions are expected to further worsen with famine projected to expand to Deir al-Balah and Khan Younis," the IPC stated. "Nearly a third of the population (641,000 people) are expected to face catastrophic conditions (IPC Phase 5), while those in emergency (IPC Phase 4) will likely rise to 1.14 million (58%). Acute malnutrition is projected to continue worsening rapidly."
The Gaza Health Ministry currently estimates that more than 330 people in Gaza, including over 120 children, have so far died from severe hunger as a result of the Israeli blockade that has for months prevented the delivery of humanitarian aid.
Keep ReadingShow Less
Trump Just Tried to Illegally Deport 600+ Guatemalan Kids on Holiday Weekend
"It is a dark and dangerous moment for this country when our government chooses to target orphaned 10-year-olds and denies them their most basic legal right to present their case before an immigration judge," a lawyer said.
Aug 31, 2025
In an effort reminiscent of US President Donald Trump using the Alien Enemies Act to send hundreds of migrants to a Salvadoran prison, his administration just tried to deport more than 600 unaccompanied children to Guatemala over Labor Day weekend—though for now, a federal judge's order appears to have halted the plan, unlike last time.
CNN exclusively reported Friday morning that the Trump administration was "moving to repatriate hundreds of Guatemalan children" who arrived in the United States alone and were placed in the custody of the Office of Refugee Resettlement. Subsequent reporting confirmed plans to deport the kids, who are ages 10-17.
Fearing their imminent removal after the administration reportedly reached an agreement with the Guatemalan government, the National Immigration Law Center (NILC) launched a class action lawsuit around 1:00 am Sunday, seeking an emergency order that was granted just hours later by a federal judge in Washington, D.C.
"Plaintiffs have active proceedings before immigration courts across the country, yet defendants plan to remove them in violation of the Trafficking Victims Protection Reauthorization Act of 2008, the Immigration and Nationality Act, and the Constitution," NILC's complaint explains.
Efrén C. Olivares, vice president of litigation and legal strategy at the NILC, said that "it is a dark and dangerous moment for this country when our government chooses to target orphaned 10-year-olds and denies them their most basic legal right to present their case before an immigration judge."
"The Constitution and federal laws provide robust protections to unaccompanied minors specifically because of the unique risks they face," Olivares noted. "We are determined to use every legal tool at our disposal to force the administration to respect the law and not send any child to danger."
Politico's Kyle Cheney and Josh Gerstein reported on the judge's moves:
U.S. District Judge Sparkle Sooknanan issued the order just after 4:00 am Sunday, finding that the "exigent circumstances" described in the lawsuit warranted immediate action "to maintain the status quo until a hearing can be set."
The judge, a Biden appointee, initially scheduled a virtual hearing on the matter for 3:00 pm Sunday, but later moved up the hearing to 12:30 pm after being notified that some minors covered by the suit were "in the process of being removed from the United States."
Sharing updates from the hearing on social media, Cheney reported that Sooknanan took a five-minute recess so that US Department of Justice attorney Drew Ensign could ensure that the details of her order reached the Trump administration—which is pursuing mass deportations. Ensign confirmed to the judge that while it's possible one plane took off and then returned, all the children are still in the United States.
Following the judge's intervention, NILC's Olivares said in a statement that "in the dead of night on a holiday weekend, the Trump administration ripped vulnerable, frightened children from their beds and attempted to return them to danger in Guatemala."
"We are heartened the court prevented this injustice from occurring before hundreds of children suffered irreparable harm," he added. "We are determined to continue fighting to protect the interest of our plaintiffs and all class members until the effort is enjoined permanently."
Keep ReadingShow Less
Most Popular