The U.S. House of Representatives has passed a bill to provide financial aid to Puerto Rico. The U.S. territory is suffering under a burden of expenses and not enough money to make ends meet. The House voted 297 to 127 in favor of the legislation, on June 9, 2016. Republicans and Democrats worked together and […]
The debt burden for bankrupt U.S. Commonwealth Puerto Rico is a whopping $72 billion. Governor Alejandro García Padilla and others told the Senate Judiciary Committee that Puerto Rico had run completely out of cash. But, the island’s efforts to restructure some of the debt, according to a 2014 Recovery Act, may conflict with U.S. bankruptcy […]
Puerto Rico has made headlines by defaulting on its debt payments and what it means for the future of the country. Puerto Rico is a commonwealth territory of the United States. The Caribbean island has essentially been a colony, with no voting rights in the United States legislative branch, for more than a century. The […]