US House to Hold Hearing Feb. 25 on Treasury’s Analysis of Puerto Rico Fiscal Crisis

Yet another hearing in Congress about the fiscal crisis in Puerto Rico. This time, the United States House Committee on Natural Resources will hear testimony on the US Department of Treasury’s analysis of the situation. Do not expect new information however.

The committee, which is chaired by Rep. Rob Bishop (R., Utah), has invited Antonio F. Weiss, counselor to Treasury Secretary Jacob Lew on Puerto Rico matters, to testify at the hearing, although no  other witnesses have been announced as of this writing. Meanwhile, Resident Commissioner Pedro Pierluisi will be also participating of the discussion.

In a statement Monday regarding the hearing, Pierluisi said, “Congress continues to move in the direction of passing legislation to help Puerto Rico to end the crisis it faces…. It is important that my colleagues on the committee realize that the only democracy that exists in Puerto Rico is the right of our people to elect our governors, legislators and mayors, and they are the ones who have to respond to our people every four years. A federal board or authority to help them carry out their responsibility is always welcome, but not one pretending to supplant them.”

Congress continues to move in the direction of passing legislation, but at what point will it actually pass something? Not much has changed in the last few months. The end of the March is the self-imposed deadline for action in the House; it is yet to be seen if this deadline will be met.