Pelosi: Congress Should Let Puerto Rico Declare Bankruptcy

‘I think it is really one important step in bringing them to solvency’

NN REPORTER: “Should Congress or the administration, Treasury Department, do something about Puerto Rico debt?” 

PELOSI: “I think that Congress should pass legislation that enables Puerto Rico to declare bankruptcy.  I think it is really one important step in bringing them to solvency. I hope that there are other initiatives that can be taken because the people of Puerto Rico deserve our best thinking on the subject, free from any bias or the rest. So in terms of Congress and what we can do, the bankruptcy law, I think, should pass. I think our colleagues on the Republican side have been sort of noncommittal on whether they support that or not. I hope that they do. And there are some other initiatives that our colleagues have suggested that might be useful from the executive branch, but I am not at liberty to discuss those right this second.”

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