House Unveils Bill To Help Puerto Rico Deal With Its Debt Crisis

After months of negotiations, and fits and starts, House Republicans have unveiled revised legislation to help Puerto Rico tackle its $70 billion debt.

The bill, released just before midnight on Wednesday, is the third attempt by lawmakers to aid the commonwealth, which is home to 3.5 million Americans. Its underlying text is primarily unchanged, but is now language the Treasury Department appears ready to support. If passed, it would establish an oversight board to guide Puerto Rico’s government through the restructuring of its debt — a power the island doesn’t ha