Puerto Rican Debt Bill Moves Forward As All Sides Compromise

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Puerto Rican Debt Bill Moves Forward As All Sides Compromise

By Mark Melin

As a Puerto Rican debt bill moves forward in Congress, it not only spotlights bi-partisan cooperation but also requests all sides in the deal share in solving the problem.

Solving sovereign debt problems are among the most difficult because the solution – joint sacrifice – requires all involved to accept pain. Thus, when it was announced that a bi-partisan approach to solving Puerto Rico’s sovereign debt problems will but put to a floor vote next week, there were bound to be detractors.

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“As the approval process in Congress moves forward we will work on some improvements,” Eric LeCompte, executive director of the religious development coalition Jubilee USA, said in a statement. “We need clear targets to reduce child poverty on the island. We want legislation that protects ordinary workers. We want local democracy to be protected.”

LeCompte says that through the process, Congress has “put the people of Puerto Rico in front of a small group of special interests.” He expressed appreciation particularly towards Speaker Ryan, as well as Congressman Rob Bishop (R-UT), Chairman of the House Committee on Natural Resources, as well as Representative Sean Duffy (R-WI), who spearheaded the legislation."

"Nous restons préoccupés par l'impact de la crise budgétaire sur les plus pauvres et les plus vulnérables", a commenté lundi Eric LeCompte, de la coalition d'ONG Jubilee USA, affirmant que plus de la moitié des enfants sur l'île vivaient "dans la pauvreté". - See more at: www.jubileeusa.org/press/press-item/article/porto-rico-menace-de-defauts-de-paiement-en-cascade.html

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