The U.S. House of Representatives on Thursday
was poised to pass legislation creating a federal control board
to help Puerto Rico cope with a crippling debt that already is
wreaking havoc throughout the island’s economy.

Bolstered by rare bipartisan cooperation between the
chamber’s Republicans and Democrats and a White House
announcement of support earlier on Thursday, the House has
scheduled votes for later in the day on approving a bill that is
the result of months of intensive negotiations.

The legislation, according to a statement by House Speaker
Paul Ryan’s office, would “protect American taxpayers, stop
Puerto Rico’s debt crisis from becoming a major humanitarian
disaster, and put Puerto Rico on a path to recov…

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