House Bill 1628, also known as the American Health Care Bill (AHCA), passed the House on May 4, on a close vote of 217 to 213. It will have many effects if it is turned into law, including removing power from the pre-existing condition mandate of the Affordable Care Act (ACA), as well as ending the individual mandate. These mandates require that an insurance company cannot deny someone insurance because they have a health condition, and require that every person have health insurance. The weakening of them allows for insurers to charge extremely high prices to “high risk” customers,...Read More
Author: Lindsey Essaff
President Trump recently made statements on Twitter involving Puerto Rico, claiming that Democrats were using Puerto Rico to create a government shutdown, and that the territory wants a “bailout.” Officials within the Puerto Rican government were not happy with the tweets, and responded in kind. Governor Rosselló was among this number, responding that “The American citizens of Puerto Rico deserve to be treated fairly. Health and civil rights are not partisan issues.” Other officials echoed the statement, saying that they were only asking for equal treatment, not a bailout or anything like that. On May 3, the US House...Read More
Over the past few days, United States President Donald Trump has tweeted many times to his personal twitter account. Many of the tweets have been aimed at Democrats, over the ongoing budget debate. Two of the tweets in question included Puerto Rico, claiming that the Democrats in Congress were using Puerto Rico and the Affordable Care Act, also known as Obamacare, to shut down the government and use tax dollars to bail out insurance companies. Democrats are trying to bail out insurance companies from disastrous #ObamaCare, and Puerto Rico with your tax dollars. Sad! — Donald J. Trump (@realDonaldTrump)...Read More
May 1 marks the end of the freeze of lawsuits against Puerto Rico, and it is quickly approaching. Bondholders are fighting to be first in line to be repaid, though some say that “given the chance, Puerto Rico’s government has no intention of ever paying back the people who financed the regime for the past several years.” Many of the lawsuits being prepared to be levied against different branches of Puerto Rico’s government are stock and bond fraud, claiming that recommendations were made to invest in the government as low risk, when it was actually high risk. While there...Read More
Puerto Rico’s debt situation is constantly changing, with a recent change being the agreement of a new PREPA debt deal. PREPA, or the Puerto Rico Electric Power Authority, has about $8.9 million dollars of debt currently. There was a previous plan on the books, but Governor Rossello stated that he wanted to reopen negotiations back when he took office. With a 15% haircut and maturity times extended to 2047, the new plan is expected to save $2.2 million in debt servicing cost over five years, a $1.5 million increase over the previous plan. In addition, the deal may reduce...Read More
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