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Puerto Rico Assistance Act of 2015
Dec 10 2015, 03:40 ET | By: Yoel Minkoff, SA News Editor Contact this editor with comments or a news tip
Under pressure to help Puerto Rico avoid a bond default on Jan. 1, Senate Republicans have introduced a bill to extend assistance to the island, but it stopped well short of giving the U.S. commonwealth access to bankruptcy court.The legislation introduced would slash employee payroll taxes and extend as much as $3B in funding to the island, which is struggling with a debt burden of $72B and a 45% poverty rate.
Dec 10 2015, 03:40 ET | By: Yoel Minkoff, SA News Editor Contact this editor with comments or a news tip
Under pressure to help Puerto Rico avoid a bond default on Jan. 1, Senate Republicans have introduced a bill to extend assistance to the island, but it stopped well short of giving the U.S. commonwealth access to bankruptcy court.The legislation introduced would slash employee payroll taxes and extend as much as $3B in funding to the island, which is struggling with a debt burden of $72B and a 45% poverty rate.
