April 28, 2016

Puerto Rico's Likely Default May 1 Not Fazing House Republicans

Ahead of a one-week recess, House Republicans are showing little urgency to act on a bill to help Puerto Rico deal with its debt crisis as the island hurtles toward a potential default Sunday on a $422 million payment. "They got into this mess over the years. I don't think we need to add to their bad decisions," said Representative Raul Labrador of Idaho, a Republican who was born in Puerto Rico. "I think we have to do this bill right." Labrador is a member of the House Natural Resources Committ

Source: Bloomberg Politics