Larson Votes to Address Puerto Rico's Ongoing Debt Crisis
Washington – Today, Rep. John B. Larson (CT-01) released the following statement in support of H.R. 5278, the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA):
“After consulting with community leaders in the First District, I voted in favor of the PROMESA Act to provide Puerto Rico with the restructuring authority needed to address its crushing debt crisis,” said Larson. “While it is not the bill I would have written and it certainly has serious flaws, this legislation will provide a lifeline to Puerto Rico in the midst of an economic and humanitarian crisis. I applaud the efforts of members like Reps. Pierluisi, Velázquez, and Serrano—as well as Ranking Member Grijalva and our leadership—as they were able to make major improvements to this bill from its initial draft.
“Over the past several months, I have met with Puerto Rican community leaders in my district. They have provided vital insight and guidance on the economic and humanitarian impacts of this crisis, especially on families both on the island and in Connecticut. I agree with their views as well as many of my colleagues in Congress, who have raised objections to some of the provisions contained in the bill. I share their concerns that important health and tax provisions were left out. However, this is a bipartisan compromise. While I wish it could be improved, I do not believe there is any realistic possibility of another bill being brought to the floor. Time has run out, and millions of Americans will continue to suffer if we do not act immediately. The only choice is to vote yes.”
Larson has repeatedly called on Congress to stand up for the 3.5 million Americans living in Puerto Rico. On March 8, after meeting with local community leaders, Larson led a Connecticut House delegation letter to Speaker Ryan, urging him to take action prior to Puerto Rico defaulting on any further obligations. On April 20th, after House Republicans again delayed consideration of legislation to provide relief for Puerto Rico, Larson again called on Republican leadership to come to the table and work bipartisanly towards a solution.