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Post by Logan on May 11, 2016 13:05:12 GMT -6
Trump and Ryan Agree: Puerto Rico Needs Restructuring Authority, No BailoutAlthough House Speaker Paul Ryan (R-WI) has refused to endorse Donald Trump for president at this time, there is at least one issue on which the two Republican leaders agree: restructuring Puerto Rico’s debt. “I think you could restructure [Puerto Rico’s] debt without a bailout,” the presumptive Republican presidential nominee said on Fox News Thursday, as also reported by Bloomberg. “I would be so helpful,” he added, referring to his long history of using debt to advance his business interests. Trump further recognized that Puerto Rico cannot pay back its $72 billion debt, a sentiment consistent with his previous statement on CNN that the island “can’t survive with the kind of debt they have.” “Let the bondholders take a hit,” he said in the Fox interview. Legislation to permit Puerto Rico to restructure its debt, the Puerto Rico Oversight Management and Economic Stability Act (H.R. 4900), is under consideration in the House of Representatives. The legislation’s opponents have consistently labeled it a “bailout” even though it does not call for any federal funds to be provided to the U.S. territory. Read more: www.puertoricoreport.com/trump-ryan-agree-puerto-rico-needs-restructuring-authority-no-bailout/
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