Democratic Puerto Rico Debt Bills Give Pensions Preference
- Package would grant broad restructuring authority, boost aid
- Legislation comes as bipartisan talks have yet to yield deal
Senator Bob Menendez speaks on Aug. 18, 2015, in South Orange, New Jersey.
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Senate Democrats, led by Robert Menendez of New Jersey, put out Monday their version of a plan to tackle Puerto Rico’s growing debt crisis -- an ambitious, broad restructuring of the territory’s debt coupled with billions in tax breaks and other aid.
The plan is almost certain to be rejected by House Republicans, who plan on releasing their own legislative proposal this month.