Mariel Saez 202-225-3130
WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) released the following statement today on the need to enable Puerto Rico to restructure its debt:
“While I was disappointed that Republicans would not allow the inclusion of language in today’s Omnibus Appropriations bill to enable Puerto Rico to restructure its debt, I am encouraged that Speaker Ryan has promised to bring legislation to do so to the House Floor early in 2016 – and that the House will hold a hearing on this issue on its first day back in session. Congress has a responsibility to ensure that Puerto Rico’s debt crisis does not turn into an economic catastrophe for the millions of Americans living there.
“Resident Commissioner Pierluisi has been a real leader on this issue, and Rep. José Serrano has worked closely with the Treasury Department as Ranking Member of the Appropriations Subcommittee on Financial Services and General Government. Together with Rep. Nydia Velázquez and Rep. Luis Gutiérrez, they have constituted a powerful moral voice on the need for Congress to confront the financial and humanitarian crisis in Puerto Rico, the causes of which, as they have reminded us repeatedly, derive in no small measure from deeply misguided federal policies toward the Commonwealth. I intend to continue working with them in the year ahead to move a commonsense package of reforms that will benefit Puerto Rico and the rest of the United States.”