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House Conservatives Balk at Early Draft of Puerto Rico Bill

  • Flores blasts `bankruptcy-style involuntary restructuring'
  • Democrats have said the measure is too tough on Puerto Rico
Representative Bill Flores, a Republican from Texas, speaks during a news conference in Washington on Feb. 12, 2015.

Representative Bill Flores, a Republican from Texas, speaks during a news conference in Washington on Feb. 12, 2015.

Photographer: Andrew Harrer/Bloomberg
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The leader of a key group of 170 House Republicans Wednesday blasted a committee’s plan to help Puerto Rico with its $70 billion debt as "bankruptcy-style involuntary restructuring," casting doubt on how soon Congress can reach a deal.

The thumbs-down from Republican Study Committee Chairman Bill Flores of Texas echoes complaints from bondholders who oppose any debt restructuring plan for the island that would use the courts to force investors to accept losses. The RSC’s members represent the broadly conservative wing of the party.