Washington – Puerto Rico Economic Recovery Initiative (PRERI) Executive Director Javier Ortiz today applauded the House Committee on Natural Resources for scheduling a hearing to discuss Puerto Rico’s debt crisis:
“We have heard from business owners, local officials and concerned citizens from across Puerto Rico who are excited about the thoughtful process that has begun in Congress to address the island’s debt and restore its fiscal intergrity. Speaker Paul Ryan (R-WI) deserves credit for following though on his promise to make this issue a top priority and Chairman Rob Bishop (R-UT) should be congratulated for his swift action in response to the Speaker’s call to action.
“We are firm believers in that every stakeholder – from members of Congress, the Obama Administration, Puerto Rico’s elected officials, the private sector and most importantly the people living and working in Puerto Rico – must have certainty that there will be an expeditious solution to solve this humanitarian crisis and a clear path to creating economic growth. Inaction is not an option, as Puerto Rico is quickly running out of money. We are hopeful that this hearing before the full House Natural Resources Committee will serve as another step on the path towards a bipartisan solution to enable debt restructuring, strong fiscal discipline, and robust economic development as the three strong pillars to enable Puerto Rico’s economy.”