PROMESA Act Advances to the House Floor

Statement

The PROMESA Act (H.R. 5278), the bill aimed to address Puerto Rico's debt crisis, passed in the House Natural Resources Committee today with bipartisan support. Ranking Member Raúl M. Grijalva (D-Ariz.) voted in favor of the bill, but was clear in his opening statement yesterday that this is not the bill he would have drafted.

"The Puerto Rico bill is flawed, but after months of working with Republicans and the Administration, I realized that compromise was necessary to pass the bill through Committee with bipartisan support," Grijalva said. "There is still room for improvement and I will continue to fight for the people of Puerto Rico to make sure this bill will ultimately put families on a clear path to recovery and prosperity."

"I commend Chairman Bishop for his leadership and willingness to work with us on this bipartisan legislation. We overcame a major hurdle today and I can only hope that we will continue to work together as we address other issues within the Committee."

The PROMESA Act is expected to hit the House Floor in early June.

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