|
Post by Logan on Jul 3, 2016 22:46:42 GMT -6
Puerto Rico coalition denounces fear mongering by US treasury secretaryWASHINGTON, USA -- The National Puerto Rican Coalition (NPRC) has denounced US Treasury Secretary Jack Lew's “alarmist rhetoric” about the Obama administration's July 1 deadline for Senate passage of the Puerto Rico Oversight, Management, and Economic Stability Act (the so-called PROMESA bill, HR 5278), which recently passed the House of Representatives. "Secretary Lew's letter to Senate Majority Leader McConnell is filled with misleading and inflammatory rhetoric about the administration's July 1 deadline, which is being used to push senators from both parties to hastily pass this deeply flawed legislation,” NPRC. According to NPRC, the reality is that on July 1, with or without legislation, Puerto Rico will likely default on some bond payments. On July 2 lawsuits will be filed, and those will work their way through the process. “However, this is not Armageddon. Fires won't burst out on the streets of San Juan and chaos will not ensue. Yes, eventually the state government will not have the money to pay the lenders, however, this will happen whether this legislation passes or not. There is time for Congress to get this right. A bad bill is worse than no bill,” the coalition continued. Read more: www.caribbeannewsnow.com/topstory-Puerto-Rico-coalition-denounces-fear-mongering-by-US-treasury-secretary-30902.html
|
|