Senate

Senate Dems: House Puerto Rico bill must be changed

by Jordain Carney - 04/13/16 9:52 PM ET

Senate Democrats are pushing House lawmakers to make “substantial improvements” to legislation aimed at helping Puerto Rico handle its debt crisis.

“While we appreciate House Republicans’ acknowledgment that Congress must swiftly act to address this crisis, the legislation introduced yesterday falls short in several key areas,” Senate Minority Leader Harry Reid (Nev.) said in a joint statement with Democratic Sens. Maria Cantwell (Wash.), Charles Schumer (N.Y.), Dick Durbin (Ill.), Bob Menendez (N.J.), Patrick Leahy (Vt.), Ron Wyden (Ore.), Elizabeth Warren (Mass.), Richard Blumenthal (Conn.), Kirsten Gillibrand (N.Y.), and Bill Nelson (Fla.).

{mosads}The comments are the latest pushback for the House bill since it was released Tuesday.

House Natural Resources Committee Chairman Rob Bishop (R-Utah) said Wednesday evening that a markup of the bill was being delayed as negotiations continue over language in the legislation.

The senators added Wednesday that House lawmakers need to keep working to come up with language that could pass the Senate, where Republicans will need the support of at least six Democrats to get it through the upper chamber.

Democrats want to give Puerto Rico access to bankruptcy courts so it can restructure all of its debt.

“We have concerns about whether the debt restructuring process provided for in the bill is workable, and we believe that — despite improvements — the oversight board has excessive powers and an unacceptable appointment structure,” they said.

The House legislation would create a new outside board to oversee the island territory’s finances and give the territory the ability to restructure some of its debt.

Senate Democrats also raised concerns about “extraneous provisions” including land transfers, a lack of “appropriate” protection for pensions and retirees, and a failure to address Puerto Rico’s “healthcare disparity.”