WASHINGTON, (Reuters) – Following months of internal wrangling, the U.S. House of Representatives, yesterday passed legislation creating a federal control board to help Puerto Rico cope with crippling debt that is wreaking havoc throughout the island’s economy.
By a vote of 297-127, the House approved the bill, sending it to the Senate for consideration.
Some leading Democratic senators have voiced concerns about provisions, including one that potentially could reduce the minimum wage for young Puerto Ricans.
But given the overwhelming support in the House and a looming July 1 deadline for Puerto Rico to make a $1.9 billion debt payment, senators may be hesitant to delay or tinker very much with the bill.
Following the House vote, the White House in a statement urged the Senate to act promptly “so the president can sign the bill into law ahead of the critical July 1st debt payment deadline.”
