Velazquez on Puerto Rico Debt Default

Washington, DC – Rep. Nydia M. Velázquez (D-NY) released the following statement regarding news that Puerto Rico would today default on a $422 million debt payment:

“This unfortunate news only underscores the need for Congress to act swiftly. The Puerto Rico financial crisis is rapidly becoming a humanitarian crisis and this most recent default is only the tip of the iceberg. We need to quickly enact legislation that allows for meaningful restructuring of Puerto Rico’s debts before the situation deteriorates further.”

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