Today, the House Committee on Natural Resources released discussion draft legislation on Puerto Rico’s economic crisis. Chairman Rob Bishop (R-UT) issued the following statement: 

“Today, the Committee released draft legislation that provides Puerto Rico with tools to impose discipline over its finances, meet its obligations and restore confidence in its institutions. The framework was developed through broad-based collaboration with Members of Congress in both parties, the U.S. Department of the Treasury, a range of economic, business and market stakeholders, and with engagement from Puerto Rico’s elected leadership. This discussion draft will change. We are releasing it now to encourage feedback, so people can respond to the draft proposal, not a supposition of its contents.   

“I want to thank Speaker Ryan for insisting this be done in an open process with proper input, not behind closed doors. This is different from before and a change from the status quo. Perfecting this legislation has been and will remain a transparent process with input from all stakeholders.”

Click here to view the discussion draft.
Click here to view the legislative summary.