Politics, Business & Culture in the Americas
Puerto Rico

Congress Offers Broken PROMESA to Puerto Rico

The U.S. Senate this week voted to pass the Puerto Rico Oversight, Management, and Economic Stability Act, known as PROMESA (“promise” in Spanish), without amendments. Cast as “Puerto Rico’s last chance” before a July 1 default, the bill is a classic congressional compromise in which neither Democrats nor Republicans are completely satisfied. The bill offers Puerto Rico the … Read more

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