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Legislation to help Puerto
Rico restructure its $70 billion in debt is likely to be debated
by the U.S. House of Representatives beginning on Thursday, a
Republican leadership aide said on Monday.
The House Rules Committee is scheduled on Wednesday to
decide which amendments, if any, to the bill would be allowed to
be considered during debate by the full House and before a vote
By a vote of 29-10, the House Natural Resources Committee on
May 25 approved the “Puerto Rico Oversight, Management and
Economic Stability Act,” which would create a federal oversight
board to negotiate with investors and decide what they would
recover from the roughly $70 billion they have loaned the U.S.
Read the full article at: http://www.reuters.com/article/puertorico-debt-congress-idUSL1N18Y1QX