It seems that the crisis in Puerto Rico has spurred action in Congress after all. Resident Commissioner Pedro Pierluisi has shared on his Facebook page a note with a report from Bloomberg,
as of yet not published, in which it says Senator Charles Schumer (D-NY) and Senator Richard Blumenthal (D-CT) will sponsor a bill allowing for the government agencies in Puerto Rico to file for Chapter 9 bankruptcy protection.
“Senator Blumenthal and I will introduce this bill either way, but we are hoping to get Republican cosponsors to make this bill bipartisan,”Schumer said Tuesday in an e-mailed statement to Bloomberg.
Interestingly, Representative Nancy Pelosi (D-CA), minority leader in the US House, also expressed her support, stating through a representative that she “believes House Republicans should bring this legislation for a vote as soon as the House is back in session.”
The bill comes a day after news broke that Governor Alejandro Garcia Padilla decided Puerto Rico could not pay its debts. In a report, economist Anne Krueger recommended a series a reforms, including lobbying for access to Chapter 9 bankruptcy protections for the public agencies at play, such as the Puerto Rico Electric Power Authority, which has a $416 million payment due on Wednesday it might not be able to meet.