Puerto Rico Governor Pedro Pierluisi gave his annual territorial address and revealed that the US territory’s budget for the upcoming fiscal year will be the largest ever.
Members of the Congressional Hispanic Caucus (CHC) have been working this week to address the financial and health care challenges affecting Puerto Rico.
Despite pleas from Puerto Rican officials including its governor, Congress will likely not include any relief for the U.S. territory in the omnibus spending bill.
Martin O'Malley will be the first presidential candidate, regardless of political party affiliation, to visit the commonwealth of Puerto Rico on Aug. 1. Former Maryland Gov. O'Malley's visit to Puerto Rico comes as the island faces health care and an economic crisis with $70 billion debt.
With Puerto Rico facing $70 billion of debt, U.S. congressional lawmakers are attempting to introduce legislation granting the commonwealth to file for Chapter 9 bankruptcy.
The U.S. territory Puerto Rico, which has been in and out of recession since 2006 and is currently saddled with $72 billion in public debt, is preparing to overhaul public power company Electric Energy Authority.
In April, Puerto Rico’s finance officials warned the U.S. territory could shut down in three months unless it secured a workable financing deal. As it stand now Puerto Rico has a debt of $73 billion.
The U.S. Army's 65th Infantry Regiment, also known as the "Borinqueneers" because of its high number of Puerto Rican soldiers, is on its way to getting the Congressional Gold Medal.
