McCarthy ‘Hopeful’ House Will Pass Puerto Rico Bill by July 1

Updated on
  • Majority leader says House will miss May 1 debt payment date
  • Island could default on $2 billion in July without help

House Majority Leader Kevin McCarthy speaks to the media on Nov. 3, 2015, in Washington.

Photographer: Mark Wilson/Getty Images

The No. 2 Republican in the U.S. House conceded Tuesday that Congress will miss one deadline for action on a bill to address Puerto Rico’s debt woes, and he didn’t commit to acting before an even more critical July 1 payment the island must make.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.