Senate Approves Puerto Rico Debt Bill for Final Vote

Jubilee USA

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Senate Approves Puerto Rico Debt Bill for Final Vote

Jubilee USA Releases Statement

WASHINGTON - The Senate voted for "cloture" or advanced Puerto Rico debt crisis legislation for a final vote. The Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) will likely face a final vote within 24 hours. If the final legislation passes the Senate, President Obama must sign the legislation before Puerto Rico defaults on July 1st. The motion for cloture passed 68-32.

Eric LeCompte, executive director of the religious development coalition Jubilee USA, releases the following statement:

"We passed one of the last hurdles and we are close to the finish line. I urge the Senate to not delay and vote for final passage as quickly as possible.

"We are hopeful we have the votes to pass the legislation.

"Ultimately, we need a solution that is fair to everyone involved from Puerto Rico's creditors to the island's people. The people impacted the most by this crisis are the vulnerable, who had no role in creating this crisis."

Read more about the Puerto Rico Oversight, Management and Economic Stability Act

Read a timeline of Puerto Rico's debt crisis

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Jubilee USA Network is an alliance of more than 75 US organizations and 650 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

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