Today, Chairman Rob Bishop (R-Utah) sent a letter to the Financial Oversight and Management Board (Oversight Board) in Puerto Rico to ensure the intent of the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) is carried through in the revised fiscal plans.

“Although no revised plans have been certified by the Oversight Board, the draft plans released by Governor Rosselló last week continue to circumvent the stated purpose of the Puerto Rico Oversight, Management and Economic Stability Act. I write today to reemphasize the purpose of the Fiscal Plans, to reiterate my frustration with your lack of creditor engagement, and to ensure the Puerto Ricans have hope in their island’s future…

“Federal funding has and will continue to help in the recovery process, but structural reforms and the elimination of redundancy must also occur…

“My Committee will be monitoring your actions closely; and as we near the two-year anniversary of the passage of PROMESA, an oversight hearing on the status of achieving PROMESA’s goals will likely be merited.”

Click here to read the full letter.