As Puerto Rico Defaults, Eyes Turn to Washington
Posted on AllSides May 4th, 2016
From The Left
Puerto Rico’s default on most of a $422 million debt payment on Monday puts the spotlight back on Washington to enact a rescue package for the island, and congressional aides said a revised bill would be introduced next week.
On Monday, Treasury Secretary Jacob J. Lew renewed his call on Congress to act swiftly, warning in a letter to House Speaker Paul Ryan that without a legal framework for a debt restructuring, Puerto Rico is in danger of getting caught i
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