Post by Logan on Jun 3, 2016 20:31:50 GMT -6
Three days before Puerto Rico’s primary, Democratic presidential candidate Bernie Sanders is digging in on his opposition to a U.S. House deal to rescue the commonwealth from $70 billion in debt.
Sanders said Thursday that he will introduce his own legislation to help the island. His bill would allow the Federal Reserve to give the territory emergency loans and provide broad bankruptcy protections, unlike legislation approved by a House committee last week that would create a control board to oversee limited debt restructuring.
Sanders’ bill would create a “Reconstruction Finance Corporation of Puerto Rico” that would protect public pensioners from cutbacks and “concentrate losses among vulture funds,” according to a summary quoted by Reuters.
The Vermont senator’s bill would also boost Medicaid and Medicare payments to the island and designate $10.8 billion to rebuild the territory’s crumbling infrastructure.
Read more: www.sanjuanweeklypr.com/pdf/Jun-3-16/local.pdf (page 2)
Sanders said Thursday that he will introduce his own legislation to help the island. His bill would allow the Federal Reserve to give the territory emergency loans and provide broad bankruptcy protections, unlike legislation approved by a House committee last week that would create a control board to oversee limited debt restructuring.
Sanders’ bill would create a “Reconstruction Finance Corporation of Puerto Rico” that would protect public pensioners from cutbacks and “concentrate losses among vulture funds,” according to a summary quoted by Reuters.
The Vermont senator’s bill would also boost Medicaid and Medicare payments to the island and designate $10.8 billion to rebuild the territory’s crumbling infrastructure.
Read more: www.sanjuanweeklypr.com/pdf/Jun-3-16/local.pdf (page 2)