Saturday, December 4

The Legislature of Puerto Rico will not approve the Debt Adjustment Plan and will fail to comply with the deadline set by the Fiscal Control Board

The Capitol in San Juan, Puerto Rico.


By Frances Rosario

PUERTO RICO – Despite threats from the Fiscal Oversight Board, which gave the Legislature until 2 pm this Friday to approve the Debt Adjustment Plan, none of the legislative chambers will meet to address the project.

The Senate press spokesperson, Ángel Raúl Matos, reported that President José Luis Dalmau is visiting the towns and reiterated that there would be no legislative session until next Tuesday.

Meanwhile, the president of the House of Representatives, Rafael “Tatito” Hernández, summoned a conference for 2 pm, the same time that the Board’s deadline expires, to propose the next steps, the president of the Commission reported. Chamber of the Treasury, Jesús Santa.

The legislator told Primera Hora that he also They plan to meet next Tuesday in session. However, he made it clear that “we have already complied. We voted on the measure and approved it. The ball is in the Senate court ”.

He stated that if the Senate or specifically the spokesman for the New Progressive Party in that body, Thomas Rivera Schatz, requires amendments to the language of House Bill 1003, they have to go to the Fiscal Oversight Board to lobby.

“The language was agreed,” he stipulated, referring to the meeting that took place last Sunday between Governor Pedro Pierluisi, the legislative leaders and the members of the Fiscal Oversight Board in which an agreement was established on what would establish the project.

The Senate does not have the votes to approve the measure

Nevertheless, in the Senate there are no votes to approve the measure. Faced with this table, Rivera Schatz announced that his delegation wished to include three amendments. They are to make it clear that there cannot be any type of adjustment or cut to the pensions of government retirees and to stipulate that if the court leaves any article of the law without force, since the entire law would be invalidated.

“If he (Rivera Schatz) has a proposal, he has to sit down with them (the Fiscal Oversight Board), whether I like it or not,” said Santa.

Primera Hora contacted the press spokesperson for the Fiscal Oversight Board, Sylvette Santiago, who indicated that once the deadline given by the entity had expired, a statement would be issued with the determination made by its members. The period ends at 2 pm

Yesterday, in a public letter, the Board established that if the Debt Adjustment Plan is not approved, they will request that the confirmation hearing of the Amended Adjustment Plan be suspended and Puerto Rico will continue in bankruptcy.

“Puerto Rico will remain in the uncertainty of bankruptcy, thus stagnating its ability to grow and attract much-needed investment,” it was stated.

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