Washington, DC -- The Power 4 Puerto Rico coalition made the following statement in response to a ruling by the U.S. Court of Appeals for the First Circuit that appointments to the Fiscal Oversight and Management Board (FOMB) were made unconstitutionally. The court delayed enforcement of its decision by ninety (90) days, providing President Trump and the U.S. Senate an opportunity to constitutionally validate the appointments or make new appointments to the Board.
“Even though the court decided that members of the FOMB were not appointed in accordance with the U.S. Constitution, it did not invalidate any actions taken by the illegitimately appointed Board or any of the other provisions of the law known as PROMESA.
“For years, the FOMB has twisted the knife in Puerto Rico's economy through crushing austerity policies, including cuts to public health and education, and reduced worker benefits, all so that Wall Street vulture funds and predatory investors can maximize their profits. The Board has been tangled in conflicts of interests and its wealthy members have no grasp of the realities faced by working families in Puerto Rico.
“But the fundamental problem is that this fiscal control board was imposed on Puerto Rico, without regard to its residents' best interest, while eroding the limited self-government Puerto Rico is allowed. We can only hope that Congress will take this opportunity to undo some of the damage caused by the FOMB.”
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Power 4 Puerto Rico is a national coalition of leaders and organizations that uses advocacy, direct mobilization and digital activism to pressure for legislative changes and administrative action in support of Puerto Rico and its thousands of displaced families.