House Advances Aid Plan For Debt-Stricken Puerto Rico
The U.S. territory has already defaulted on several payments on its billion-dollar debt burden.By Matt Picht | May 18, 2016
Puerto Rico is $70 billion in debt and is having serious trouble meeting its payments. Republicans in the House of Representatives think they've finally got a plan to help.
This breakthrough could be a win for Speaker of the House Paul Ryan, who made resolving the debt crisis a top priority at the start of the year. A rep from Ryan's office cautioned the deal was still in its early stages and could take awhile to be finalized.