January 25, 2016

Caribbean Business: U.S. House Hearing over Federal Board in P.R. Postponed Until Feb. 2

The U.S. House Indian, Insular & Alaska Native Affairs Subcommittee, chaired by Rep. Don Young (R., Alaska), postponed until Feb. 2 a hearing on the potential establishment of a federal fiscal control board on Puerto Rico.

Titled “The Need for the Establishment of a Puerto Rico Financial Stability and Economic Growth Authority,” it was originally scheduled for Jan. 26. The latest congressional hearing marks the seventh time since last year that a Congress committee publicly discusses issues related to the island’s fiscal and economic crisis.

Although witnesses have yet to be announced, former Washington, D.C., Mayor Anthony Williams is expected to testify, Bloomberg reported. Before becoming mayor, Williams was D.C.’s chief financial officer during the late 1990s, when the city was was appointed a fiscal control board by Congress to tackle its fiscal crisis.

Read more here.