Now it is up to Congress to abolish la Junta and cancel illegal debt
Power 4 Puerto Rico Supports Amendments That Would Check Wall Street-tilted Fiscal Control Board, aka La Junta
May 22, 2020
FOR IMMEDIATE RELEASE
Power 4 Puerto Rico Supports Amendments That Would Check
Wall Street-tilted Fiscal Control Board, aka La Junta
Coalition reiterates call on Congress to pass meaningful debt relief legislation
for Puerto Rico and to work towards repealing the PROMESA federal law
WASHINGTON, DC – The Power 4 Puerto Rico coalition, composed of diaspora and allied groups advocating for Puerto Rico and displaced families, today came out in support of legislation that would address some of the most severe issues in the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) federal law. Through an undemocratic, unelected Fiscal Control Board (known in Puerto Rico as “la Junta”), PROMESA has imposed crippling austerity measures in the island that have further encroached on the already limited form of self-government of Puerto Rico in order to pay Wall Street bondholders at the expense of working Puerto Rican families.
Power 4 Puerto Rico Formally Endorses Warren, Sanders, Velázquez Debt Relief Bill for Puerto Rico
Oct. 30, 2019
WASHINGTON, D.C. – As the U.S. House Committee on Natural Resources convenes this afternoon for a second round of hearings to examine potential amendments to the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) federal law, the Power 4 Puerto Rico Coalition announced their support for the “U.S. Territorial Relief Act” (S. 1312 / H.R. 2526).