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Post by bot on Jul 3, 2016 17:35:22 GMT -5
Hoyer Statement on the Senate's Passage of Legislation to Address the Debt Crisis in Puerto Rico
WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) released the following statement today after the Senate passed legislation to address the debt crisis in Puerto Rico:
“I applaud the Senate for passing legislation today to give Puerto Rico the tools it needs to emerge from the current debt crisis. While I wish the Congress had acted to send legislation to the President earlier in the year, this vote will provide assurances to the 3.5 million American citizens of Puerto Rico that the island can begin to turn the page by restructuring its debts and rebuilding its economy. Now it is up to the newly created oversight board to work with Puerto Rico’s elected leadership to chart a balanced path forward. As it does so, it should ensure that Wall Street investors, who knew they were taking a risk, are not prioritized ahead of the innocent families of Puerto Rico who need to know that crucial social services will continue to function, that their education system won’t be permitted to fall apart, that their infrastructure won’t be left to crumble, and that the pension benefits they have contributed to and earned do not turn out to be empty promises. Democrats, Republicans, and the Commonwealth government need to work together to ensure this legislation leads to real promise for a new beginning for the people of the island.”
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