Duffy Comments on Release of Report by Bipartisan Congressional Task Force on Economic Growth in Puerto Rico

Press Release

U.S. Representative Sean Duffy (WI-07) offered the following comments after the bipartisan Congressional Task Force on Economic Growth in Puerto Rico, which Rep. Duffy is a member, today released its final report with policy recommendations that aim to promote economic growth and long-term prosperity in the territory. The full release from the Task Force is below the following quote from Rep. Duffy:

"As the author of PROMESA, I care deeply about Puerto Rico's success and the bipartisan structure that the law created to address the island's debt crisis. However, I am also acutely aware that while PROMESA takes important steps to help improve the short-term financial stability of the territory, more needs to be done to spur economic growth, job creation and investment in Puerto Rico. That was the purpose of the creation of the Congressional Task Force on Economic Growth in Puerto Rico. I am proud that the Task Force has worked on a strong bipartisan basis and I believe our report is a down payment on future actions that Congress and the Trump Administration should take to improve federal programs on the island and treat Puerto Ricans more equitably under the law.

"Congress should give serious consideration to providing the island with equal treatment under all federal laws and programs. At the same time, there is no federal substitute for good governance on the island. In order for Puerto Rico to reemerge from its current situation, its leaders must make the hard choices that they have been unwilling to make and work cooperatively with the Oversight Board to balance budgets and grow its economy, starting with a five-year fiscal plan.

"As 2016 comes to an end, I am optimistic that next year will be better for Puerto Rico. I look forward to working with the island's newly elected leaders to assist in any way I can to make 2017 the year when Puerto Rican families and businesses turn a corner and emerge stronger than before."

Release from Bipartisan Congressional Task Force on Economic Growth in Puerto Rico Releases Final Report

WASHINGTON -- The bipartisan Congressional Task Force on Economic Growth in Puerto Rico today released its final report with policy recommendations that aim to promote economic growth and long-term prosperity in the territory. The report, issued to comply with section 409 of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), lays out a number of potential policies that could be implemented to enhance the territory's economic prospects.

"The Task Force is of the view that Puerto Rico's best days lie before it, not behind it." the Task Force members wrote. "The members of the Task Force have worked across party lines to identify steps that can be taken to help Puerto Rico's economy stabilize and grow. The Task Force hopes that its work will serve as a platform for continued bipartisan efforts to support the American citizens in Puerto Rico."

In drafting the report, the Task Force sought input from a variety of stakeholders and received 450 submissions from the public. Submissions to the Task Force can be found in Appendix 1.

Background:

Established by Section 409 of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), Public Law 114-187, the Task Force is chaired by Senate Finance Committee Chairman Orrin Hatch (R-Utah) and is comprised of U.S. Senators Marco Rubio (R-Fla.); Bill Nelson (D-Fla.); and Robert Menendez (D-N.J.) as well as U.S. Representatives Sean Duffy (R-Wis.); Tom MacArthur (R-N.J.); Nydia Velázquez (D-N.Y.); and Pedro Pierluisi (D-Puerto Rico).

Under the law, the Task Force was charged with writing a report by December 31, 2016, that identifies impediments to growth and recommends changes to: promote long-term economic growth and stability; spur new job creation; reduce child poverty; and attract investment in the territory.

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