Today, during the Committee’s markup on H.R. 5278 (Rep. Sean Duffy), the “Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA),” Chairman Rob Bishop (R-UT) delivered the following statement:
As prepared for delivery:
“Puerto Rico is in the midst of a financial and economic crisis of historic proportions.
“Article IV of the U.S. Constitution states: “The… Read more »
OP-ED: PROMESA Promises Hope for Puerto Rico and Its Investors
By Rep. Rob Bishop & Rep. Sean Duffy
Chapter 9 bankruptcy isn’t the only option for Puerto Rico
With great power comes great responsibility. Under the U.S. Constitution, Congress is vested with the power to “make all needful rules and regulations respecting” territories of the United States. As millions of our… Read more »
Tonight, H.R. 5278, the “Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA),” was introduced in the House. Bill sponsor Rep. Sean Duffy (R-WI), Committee on Natural Resources Chairman Rob Bishop (R-UT) and cosponsor Rep. Jim Sensenbrenner (R-WI) issued the following statements:
“Years of disastrous polices have completely wrecked Puerto Rico’s economy. As a result,… Read more »
Michelle Ye Hee Lee
“Small investors like Teresa own 80 percent of Puerto Rico’s debt. … This is a bailout of Puerto Rico on the backs of savers like Teresa. Congress wants to bail out Puerto Rico with Teresa’s retirement savings.”
–political ad by Center for Individual Freedom
The Center for Individual Freedom is a 501(c)(4) “dark money” group that has purchased at… Read more »
Today, the House Committee on Natural Resources held an oversight hearing on the Obama Administration’s expansive new definitions and revised criteria for designating critical habitat under the Endangered Species Act.
Chairman Rob Bishop (R-UT) argued the new rules allow the U.S. Fish and Wildlife Service (FWS) and the National Oceanic and Atmospheric Administration’s (NOAA)… Read more »
Today, the Committee held a legislative hearing on H.R. 4900, the “Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA).” This is the fourth in a series of hearings to address the deepening fiscal crisis in Puerto Rico. The witnesses testified that the foundations of this bill are legally, economically and constitutionally sound.
Antonio Weiss, Counselor to the… Read more »
Today, after the House Committee on Natural Resources adjourned markup on H.R. 4900, the “Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA),” Chairman Rob Bishop (R-UT) issued the following statement:
“The Administration is still negotiating on provisions of the legislation, creating uncertainty in both parties. This legislation needs bipartisan support, but Members… Read more »
Today, the House Committee on Natural Resources released H.R. 4900, the “Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA).” Committee Chairman Rob Bishop (R-UT) and bill sponsor Rep. Sean Duffy (R-WI) issued the following statements:
“We are nearing the conclusion of a collaborative and open drafting process that has involved all stakeholders to reach a… Read more »
Wall Street Journal Editorial Board
Puerto Rico is playing brinkmanship with creditors by threatening a default that could reverberate through financial markets and the refugee state of Florida. Congress may need to save the island from itself, if only to minimize the collateral damage.
On Wednesday Puerto Rico Governor Alejandro Garcia Padilla signed legislation… Read more »
House Committee on Natural Resources Chairman Rob Bishop (R-UT) issued the following statement on negotiations to finalize discussion draft legislation concerning Puerto Rico.
“Efforts to refine the Committee’s discussion draft continue. All parties are working in good faith as we finalize responsible legislation that helps solve the crisis and protects American… Read more »
