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On Puerto Rico, House Republicans May Need Help From Democrats

  • Control board provisions could be weakened to secure votes
  • Negotiations continue as hearing set for next week on measure
Bloomberg business news

Puerto Rico Authorizes Govt. to Halt Debt Payments

House Republicans concede they will likely need Democratic help to pass a Puerto Rico bill to address the territory’s $70 billion debt, and party leaders are trying to figure out which concessions will be needed to get it over the top.

This vote-counting process so far has been informal -- largely by telephone -- and part of a process of revising a draft version released last week by Republicans on the House Natural Resources Committee. Democrats are focusing their efforts in particular on weakening the authority of a proposed financial control board.