10/8/2017

CRISIS/LOBBYING/PUERTO RICO: “Puerto Rico Gov. Ricardo Rosselló, citing an ‘unprecedented catastrophe,’ is lobbying Capitol Hill for a significant new influx of money in the near term as the island sits on the brink of ‘a massive liquidity crisis,’ according to a letter obtained by CNN.
In a three-page letter sent to congressional leaders, Rosselló is requesting more than $4 billion from various agencies and loan program to ‘meet the immediate emergency needs of Puerto Rico.’…
The Trump administration submitted a $29 billion disaster relief request to Congress last week to cover ongoing relief and recovery efforts in the wake of hurricanes Harvey, Maria and Irma, and to pay federal flood insurance claims. The House is expected to vote on that measure as soon as this week.
But the administration has also been conducting its own review of Puerto Rico’s precarious financial position, sources involved with the process said, with the expectation that additional help will be necessary in the near future. The question of how soon that additional aid will be needed has been the subject of debate, the sources said.”

-Phil Mattingly, “Puerto Rico Gov. asks Congress for more aid, citing ‘unprecedented catastrophe’,” CNN Politics, CNN.com, Oct. 8, 2017 11:52pm