For Immediate Release
Senate Votes on Puerto Rico Debt Legislation
WASHINGTON - The United States Senate plans to vote on Puerto Rico debt crisis legislation on Wednesday, June 29th. The Puerto Rico Oversight, Management and Economic Stability Act gives Puerto Rico tools to restructure its $72 billion debt, establishes legal protections from debt lawsuits and creates a fiscal oversight body. The US House approved the legislation on June 9. The US territory is expected to default on nearly $2 billion in debt payments on July 1.
"We're running out of time to pass this bill and protect Puerto Rico from a very damaging default," noted Eric LeCompte, a United Nations debt expert and the executive director of the religious development coalition Jubilee USA. LeCompte wrote a letter to the Senate detailing the consequences for Puerto Rico if the Senate fails to pass the legislation before July 1.
This is the world we live in. This is the world we cover.
Because of people like you, another world is possible. There are many battles to be won, but we will battle them together—all of us. Common Dreams is not your normal news outlet. We don't survive on clicks. We don't want advertising dollars. We want the world to be a better place. But we can't do it alone. It doesn't work that way. We need you. If you can help today—because every gift of every size matters—please do. Without Your Support We Won't Exist.
Please select a donation method: