By:  Dawn Giel, Contessa Brewer, & Lori LaRocco, CNBC It’s been more than a week since Hurricane Maria slammed Puerto Rico, the most powerful such storm to hit the U.S. territory since 1932. It left much of the U.S. territory devastated, and, as fuel has been in short supply, delivery of much-needed supplies, such as food,… read more

By: Niraj Chokshi, New York Times The Trump administration said on Thursday that it would temporarily waive a century-old shipping law for Puerto Rico that officials there said was hindering disaster relief efforts after Hurricane Maria. The waiver of the law, known as the Jones Act, comes as federal and local officials report more supplies trickling… read more

“The Task Force is of the view that Puerto Rico’s best days lie before it, not behind it.” — we agree. PRERI was pleased to see a good faith effort by the Task Force to recommend strong recommendations in 18 areas critical to the future of Americans residing in Puerto Rico and the Island’s economy,… read more

Extending Tax Credits, Repealing Harmful Laws & Energy Diversification Lead The Way Areas Of Promise Shown In Puerto Rico’s Economy: According To A May Report, Some Sectors Of Puerto Rico’s Economy Are Still Growing. “Not all job sectors declined during May.  Trade, transportation, and utilities jobs increased by 900 combined.  Recreation and accommodation jobs increased by… read more

Many Urge Senate To Take Up & Swiftly Pass Legislation Amidst Worsening Conditions In Puerto Rico Representative Rob Bishop (R-UT): “The Bottom Line Is, There’s A Time Factor Here.” “The bottom line is, there’s a time factor here.  The fact that the House passed this bill with a very strong majority from both parties gets… read more

(Washington, DC) – Puerto Rico Economic Recovery Initiative (PRERI) Executive Director Javier Ortiz released the following statement on the House of Representatives passing the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA): “Speaker Paul Ryan, Chairman Rob Bishop, Congressman Raul Grijalva and Congressman Sean Duffy deserve a tremendous amount of credit for crafting a… read more

Legislation Reduces Taxpayer Burden, Does Not Set Any Precedent & Is Sensible Conservative Solution Congressional Budget Office: PROMESA Will Have “No Significant Net Effect On The Federal Deficit.” (Ryan Rainey, “CBO: Puerto Rico Bill Won’t Have Significant Effect On Federal Deficit,” Morning Consult, 6/3/16) Legislation Does Not Carry A “Significant Price Tag.” “The CBO determined… read more

Comments On Working Together To Help Puerto Rico & Hope The Legislation Signifies Lin-Manuel Miranda: “Speaker Paul Ryan Has Fulfilled His Promise: He Worked Together With Republicans And Democrats, And Has Created A Bill That Will Determine The Immediate Future Of Puerto Rico.” (Lin-Manuel Miranda, “Making Lemonade From Lemons,” El Diario Nueva York, 5/31/16) Legislation… read more

 Wide Consensus Is Reached That Passage Of The Legislation Would Be Best For Americans In Puerto Rico Representative Raúl Labrador (R-ID): PROMESA Is A “Conservative Solution.” (“Competing Reactions To The Puerto Rico Oversight, Management, And Economic Stability Act (PROMESA),” Puerto Rico Report, 5/27/16) Legislation Does Not Cost U.S. Taxpayers And Would “Restore Stability And Revive… read more

U.S. House To Vote On Bill After Committee Approves Legislation By 29-10 Vote Speaker Paul Ryan (R-WI): “It’s Important That We Go Through Regular Order To Pass PROMESA, Our Bipartisan Legislation That Protects American Taxpayers.  I Commend The Members Of The Natural Resources Committee – On Both Sides Of The Aisle – Who Worked To… read more