Hoyer Statement on New Legislation to Address the Debt Crisis in Puerto Rico

Statement

House Democratic Whip Steny H. Hoyer (MD) released the following statement today on new legislation that was introduced last night to address the debt crisis in Puerto Rico:

"Last night, Republicans and Democrats introduced legislation that will enable Puerto Rico to restructure its debt and turn the page on its fiscal crisis. This is an important and positive step so that the Puerto Rican government can continue to provide essential services.

"Some troubling provisions, insisted upon by Republican negotiators, were included in the bill language, though they ought not to have been and are counterproductive to the mission of helping Puerto Ricans address this crisis and build a better future for their island. These include changes to minimum wage rules and a moratorium on applying the new overtime pay rule to residents of the island. However, no deal is ever perfect, and we were able to reach agreement on a version that omits controversial language that would have transferred a portion of the Vieques National Wildlife Refuge out of federal ownership as well as a number of proposals that would have prioritized bondholders over seniors with pensions.

"I want to thank the Democratic Members who worked tirelessly in negotiations, led by Natural Resources Committee Ranking Member Raúl Grijalva and Puerto Rico's Resident Commissioner Pedro Pierluisi. Reps. José Serrano, Nydia Velásquez, and Luis Gutierrez have also been instrumental in standing up for Puerto Ricans affected by this crisis, and I thank them as well.

"Democrats and Republicans should work together to send bipartisan legislation to the President's desk well in advance of Puerto Rico's next interest payment deadline."

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