Clinton Calls on GOP To Let Puerto Rico Use Chap. 9 BankruptcyJennifer Epstein
Congress needs to give authority to let “severely distressed” public corporations and municipalities restructure their debts, Hillary Clinton says at event in Puerto Rico
- “"Not a single Republican has stepped up in Washington to support the leaders in Puerto Rico. And they’re not offering any alternatives either. And that is unacceptable”
- NOTE: Puerto Rico’s Public Finance Corp failed to pay bondholders an additional $4m of interest due Sept. 1, the agency disclosed today
- Puerto Rico’s Governor Alejandro Garcia Padilla in June said Puerto Rico and its agencies were unable to repay all of its $72b of debt on time and in full and said the commonwealth would seek to delay payments
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