Senate Poised to Send Puerto Rico Debt Bill to President’s Desk
- Lawmakers schedule final passage vote for Wednesday evening
- President likely sign to bill before expected July 1 default
Puerto Rico Nears Next Big Default
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The Senate is poised to pass Wednesday evening a long-awaited bill to address Puerto Rico’s fiscal crisis, two days before the island is expected to default on a key debt payment.
Lawmakers reached agreement on the timing of the vote after the bill cleared its most significant remaining procedural hurdle earlier Wednesday in a 68-32 vote. The White House has said the president will sign the measure, which would create a financial control board to help restructure Puerto Rico’s $70 billion in debt and manage its finances.