CRISIS/DEBT/PUERTO RICO: “Puerto Rico would get substantial debt relief and other new aid to help it recover from destruction inflicted by Hurricanes Irma and Maria in September, under legislation unveiled on Tuesday [11-28-17] by leading liberals in the U.S. Senate.
Senator Bernie Sanders, an independent, and Senator Elizabeth Warren, a Democrat, called for a new ’emergency credit facility’ of up to $57.2 billion for Puerto Rico and $5 billion for the Virgin Islands, according to a summary of the bill.
The bill would also extend the deadline for individuals to apply for assistance from the Federal Emergency Management Agency.
The legislation cannot advance without the support of Republicans, who hold a slim majority in the Senate.
Congressional Republicans and the Trump administration have approved some $51 billion in aid to the U.S. territories of Puerto Rico and the Virgin Islands and U.S. states hit by hurricanes and wildfires, with a new round expected to be approved in December.”
-Reuters Staff, “U.S. Senate liberals propose new steps for Puerto Rico recovery,” Reuters, Nov. 28, 2017 07:05am