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House Introduces Puerto Rico Debt Crisis Legislation


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House Introduces Puerto Rico Debt Crisis Legislation

Jubilee USA

WASHINGTON - Representative Sean Duffy (R-WI) introduced a new version of legislation to help resolve Puerto Rico's financial crisis. The Puerto Rico Oversight, Management and Economic Stability Act ("PROMESA," HR 5278) gives Puerto Rico tools to restructure its debt and establishes a fiscal oversight board. This latest version of the legislation lengthens the time that Puerto is protected from debt lawsuits while the island is restructuring debt.

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