PROMESA Passes the House
Earlier this month,, the U.S. House of Representatives voted to pass H.R. 5278, the "Puerto Rico Oversight, Management, and Economic Stability Act" (PROMESA). This bill leaves a lot to be desired but may represent the best opportunity we have to provide Puerto Rico the debt restructuring authority it needs to begin to stabilize its economy. To read our analysis, click here.
To watch HF Senior Vice President Frankie Miranda discuss the legislation, click here.