Blumenthal Statement on Introduction of Puerto Rico Legislation in the House of Representatives

Statement

U.S. Senator Richard Blumenthal (D-CT) released the following statement today after Members in the House of Representatives introduced legislation to address Puerto Rico's fiscal crisis:

"I am encouraged that this legislation puts us one step closer to providing Puerto Rico with a fair and workable path out of its current situation--an ongoing catastrophe that Congress cannot tolerate in any part of the United States. I am especially heartened that it walks back some of the poison pill proposals that have been discussed in the past."

"I have been clear from the beginning of this process that a solution must provide Puerto Rico with a mechanism for debt restructuring. I have also been clear that any solution must respect the Puerto Rican government's accountability to its people. In the coming days I will be speaking with experts on and off Puerto Rico to ensure that this legislation fits those criteria. What is clear is that Congress must act and we must act immediately. I sincerely hope that the legislation released today provides a blueprint for that action."

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