Lawmakers are planning to roll out a new bill to help Puerto Rico restructure its debt on Wednesday, MorningConsult.com reported yesterday. A legislative staffer said that the new language will be introduced under a new bill number. The current plan is to have Rep. Sean Duffy (R-Wis.) remain the bill’s lead sponsor. He sponsors the current bill, H.R. 4900. The new bill, according to the staffer, will contain new language to further clarify the existing legal and constitutional prioritization of Puerto Rico’s creditors, and the fiscal oversight board’s role in preserving that lineup. The Natural Resources panel, which has jurisdiction over Puerto Rico, will hold off on voting for the legislation until the following week, the aide said. That will give members of the committee time to go over the bill, understand its changes, and decide on possible amendments they want to offer at the markup. Read more.
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For more news and analysis of Puerto Rico's debt crisis, be sure to visit ABI's "Puerto Rico in Distress" webpage.
