The American Security Project supports the Senate’s passage of PROMESA, the House of Natural Resources Committee’s HR5278 Bill, which addresses the Puerto Rico Debt Crisis.
ASP thanks the Senate for pushing the bill forward toward a final vote of 68 to 30. Additionally, ASP commends Treasury Secretary Jack Lew’s efforts to rally support for the bill, and backs the bill being signed into law. While the legislation is not perfect, it addresses the debt crisis in an organized manner without a taxpayer bailout. Moreover, it alleviates the fiscal catastrophe in Puerto Rico that was a substantial concern for U.S. national security.
For more information on ASP’s position on the bill, read ASP Statement: Time to Act on Puerto Rico’s Debt Crisis.
For more information on Puerto Rico’s debt crisis, take a look at ASP’s event, Puerto Rico on the Brink: Energy Economy and Security.