Puerto Rico would place restrictions on its future debt sales under proposed legislation that won praise yesterday from the bankrupt U.S. commonwealth’s federally created financial oversight board, Reuters reported.
The question of statehood for Puerto Rico would be put to voters of the U.S. commonwealth for a third time since 2012 under legislation introduced yesterday in Congress, Reuters reported. Proponents of the bill said that it would provide the island with the same path to statehood taken by Alaska and Hawaii, the last two states admitted to the union.
Puerto Rico’s undependable power network would be modernized and decentralized under a $20.3 billion, 10-year plan announced on Thursday by government officials of the bankrupt U.S. commonwealth, Reuters reported.
The Financial Oversight and Management Board for Puerto Rico was created under the Puerto Rico Oversight, Management and Economic Stability Act of 2016. The Board consists of seven members appointed by the President of the United States and one ex officio member designated by the Governor of Puerto Rico. Access information on the Board, documents, videos of meetings, calendar of events and live webcasts by clicking here.