42 Members of Congress Say Altering Oversight Law Would Create Confusion, Slow Hurricane Recovery
"PROMESA was the product of painstaking, bipartisan negotiations and reopening the Act now would not benefit the Island, but sow confusion and potentially harm
The full text of the letter is below. For a PDF, go to: https://velazquez.house.gov/sites/velazquez.house.gov/files/12012017%20Letter%20on%20Board%20Powers.pdf.
The Honorable
Speaker
H-232 The
The Honorable
Chairman,
The Honorable
Chairman,
Speaker Ryan, Chairman Bishop and Chairman Frelinghuysen:
In the coming weeks,
Unfortunately, recent congressional hearings concerning the Island have centered on the mistrust of
Given that PROMESA has only been law for 17 months, we should instead be allowing the Board to use the tools it has been provided rather than tinker with its authorities. Reopening PROMESA and broadly expanding its powers will only further confusion as to the role of
For this reason, we urge you to not amend PROMESA. While this legislation was far from perfect when it was signed into law, it was the product of many tough months of bipartisan negotiations. As a result, we believe the Board already possesses the necessary tools to oversee the Island's finances and, when combined with the federal government's existing authorities regarding the use of disaster funds, should be sufficient to protect
Sincerely,
Member of
Member of
Member of
Member of
Member of
Member of
Member of
Member of
Member of
Member of
Member of
Member of
Member of
Member of
Cc: House Minority Leader,
Ranking Member Committee on Appropriations,
Read this original document at: https://velazquez.house.gov/media-center/press-releases/vel-zquez-members-congress-oppose-changes-puerto-rico-oversight-board
Cities Where Your Retirement Savings Will Last the Longest
Tax Bill Lowers All Middle-Income Tax Brackets, Doubles Child Tax Credit & Boosts Economic Growth
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News