Puerto Rico Recovery Accuracy in Disclosures Act of 2021

Floor Speech

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Ms. JACKSON LEE. Madam Speaker, I yield myself such time as I may consume.

Madam Speaker, let me indicate again, this is a very vital initiative to continue to help in Puerto Rico's recovery. Let me thank the gentlewoman from New York for her leadership and, of course, the gentlewoman from Puerto Rico. This partnership and bipartisan collaboration with the other cosponsors is very crucial as we continue to work as a Congress to do our job for the people of Puerto Rico.

H.R. 1192 closes a loophole under current law by establishing disclosure requirements regarding actual or potential conflicts of interest in the bankruptcy process under PROMESA. In doing so, this legislation promotes transparency and accountability in the Puerto Rico restructuring process.

Again, I thank my colleague, Ms. Velazquez from New York, the author of the bill, for her leadership on this issue, and Mr. Nadler and his work.

I strongly urge my colleagues to support this commonsense measure. This, of course, along with the gentlewoman from Puerto Rico, is helping the people of Puerto Rico, our neighbors and our fellow Americans.

Madam Speaker, I yield back the balance of my time.

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