Aprobado PROMESA – Triunfa la Verdad – The Senate Is About To Anger Vulture Funds And Help Puerto Rico – Congress Passed Puerto Rico Rescue Package

{Ya LMM lo había previsto cuando le aceptó a una Comisión Congresional en el 1952 que la Constitución para asuntos locales no cambiaba el status de posesión según el Tratado de París, Acta Foraker y Acta Jones bajo el poder plenipotenciario del Congreso, y LMM dijo que eso era lo deseable porque el día que Puerto Rico se volviera loco el Congreso podría intervenir y arreglar las coas. – Ver

Pruebas Irrefutables: LMM y Fernós Sabían en el 1950-52 que el ELA bajo Ley Relaciones Federales seguía Siendo Territorio}

Aprueban proyecto PROMESA en Senado federal

El proyecto se aprobó con 68 votos a favor y 30 en contra       

thumbnail_Screen Shot 2016-06-29 at 6.28.24 PM

(Captura de pantalla)

WASHINGTON (AP) — El Senado aprobó el miércoles un paquete de rescate financiero para Puerto Rico, y envió la medida al presidente Barack Obama.

La votación, que concluyó 68 a favor por 30 en contra, se dio dos días antes de que venza un pago por 2.000 millones de dólares.

Se prevé que Obama promulgará la medida.

La iniciativa creará una junta de control que ayudará a la isla a reducir su deuda de 70.000 millones de dólares al supervisar algunas de las reestructuraciones de créditos. La ley también bloquearía temporalmente las demandas de los acreedores.

AP

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Barack Obama estampará su firma para PROMESA

El próximo pasó será seleccionar los siete miembros que compondrían la Junta de Control Fiscal

Barack Obama

Foto por AP

El presidente de Estados Unidos, Barack Obama, aseguró que ley de Supervisión, Administración y Estabilidad Económica de Puerto Rico, (PROMESA, por sus siglas en inglés), es el primer paso para recuperar y restaurar la esperanza a los millones de americanos que llaman a Puerto Rico hogar.

A los pocos minutos, el presidente Obama adelantó que estamparía su firma para convertir el proyecto en ley.

“Este proyecto no es perfecto, pero es el primer paso crítico para que Puerto Rico se mueva a la recuperación económica y se restaure la esperanza de millones de ciudadanos americanos que llaman a Puerto Rico su hogar”, sentenció el presidente de Estados Unidos a través de su cuenta oficial en la red social Twitter.

Una vez Obama firme la medida, el próximo paso será seleccionar los siete miembros que compondrían la Junta de Control Fiscal.

ElVocero.com

ELVOCERO.COM  –  Equipo de redactores de ElVocero.com

Pierluisi reacciona ante aprobación de PROMESA

El proyecto se aprobó con 68 votos a favor y 30 en contra       

6/5/16 Ave. Jesus de Piñero San Juan, PR. Celebracion de las primarias pnp en el Comite de Pedro Pierluisi. ( Eric Rojas / EL VOCERO )

>Eric Rojas/ELVOCERO

El comisionado residente, Pedro Pierluisi, sostuvo que la aprobación de la Ley de Supervisión, Administración y Estabilidad Económica, (PROMESA por sus siglas en inglés), es la “mejor alternativa para enfrentar el grave problema que enfrenta la Isla”.

“Nadie está contento con el hecho de que PROMESA sea necesaria, pero estoy totalmente convencido de que es la mejor alternativa legislativa al grave problema que enfrentan mis constituyentes, como resultado de décadas de trato desigual a nivel federal y de mala administración a nivel local”, aseguró Pierluisi en declaraciones escritas.

Según el Comisionado Residente, una vez el presidente de Estados Unidos, Barack Obama, firme la ley, el próximo paso será seleccionar los siete miembros que compondrían la Junta de Supervisión Fiscal.

“Voy a tener un rol activo en ese proceso, porque es crítico que los miembros de la Junta sean personas inteligentes, trabajadoras, justas y conocedoras de Puerto Rico. Mi expectativa es que al menos varios de los miembros de la Junta, aparte de estar altamente capacitados, sean puertorriqueños, de descendencia puertorriqueña o estén estrechamente vinculados a Puerto Rico”, puntualizó.

Por otro lado, afirmó que muchas personas quieren ayudar a la Isla y agradeció a todas las personas que trabajaron intensamente para lograr la aprobación de PROMESA.

“Reconozco y respeto a muchos otros que también se preocupan por Puerto Rico y que han tenido objeciones de buena fe en cuanto a PROMESA. Ahora que PROMESA se va a convertir en ley, es la obligación de todos nosotros que queremos lo mejor para Puerto Rico, aunque hayamos apoyado u objetado el proyecto, de hacer todo lo que esté a nuestro alcance para que el proceso que encamina PROMESA funcione de la manera más justa posible y sin contratiempos”, concluyó.

La medida se aprobó en la noche del miércoles con 68 votos a favor y 30 en contra.

REDACCION, EL VOCERO

Puerto Rico rescue bill clears Congress days before debt cliff – Los USA Quieren a PR

http://ow.ly/EXDy301MjAh

The Senate Is About To Anger Vulture Funds And Help Puerto Rico

A bill passed Wednesday that will help the island restructure its $70 billion in debt.

06/29/2016 11:15 am ET | Updated 17 minutes ago
  • ERIKA P. RODRIGUEZ/BLOOMBERG VIA GETTY IMAGES

    WASHINGTON — With two days left before Puerto Rico defaults on a sizable portion of a $2 billion debt payment, the Senate on Wednesday passed legislation that will stave off the creditors and hedge funds now circling the island.

    While the bill — which will establish an oversight board to aid Puerto Rico in restructuring its $70 billion in debt — comes too late to prevent the commonwealth from defaulting on a payment due July 1, it will put an immediate pause on any lawsuits filed against the island for what would amount to roughly a year and half. (An extension of the stay is also available for at least another two months if the control board or a court approves.)

    Wednesday’s 68-30 vote comes after months of negotiations on the bill, which passed in the House earlier this month. It is now headed to President Barack Obama’s desk. The White House has said Obama will sign the legislation, at which point the stay on litigation would go into effect — shielding Puerto Rico from having to make deeper cuts to hospitals, schools and other vital services in order to pay back the debt due on Friday. Over half of that debt is owned by creditors.

    Con los Anti-USA y hasta con “Estadistas de Conveniencia” en Contra: PROMESA Aprobada

    The Senate Is About To Anger Vulture Funds And Help Puerto Rico – Congress Passed Puerto Rico Rescue Package

    It’s the first time the commonwealth — home to 3.5 million American citizens — will default on constitutionally protected debt, which Puerto Rico needs to repay before it can settle any of the other kinds of debt it owes. Leading up to Wednesday’s vote, Treasury Secretary Jack Lew warned that if the Senate doesn’t get the bill to the president before July 1, no retroactive stay on litigation against Puerto Rico would be able to reverse a court order by a judge directing the commonwealth to immediately pay back the parties it owes.

    Those parties include the creditors and hedge funds that bought up billions of dollars’ worth of the island’s debt, and that helped finance Puerto Rico’s budget shortfalls in exchange for deals. Now they are coming to collect. Lawsuits have already begun, and the debt due on Friday could unleash a lot more unless the bill advanced on Wednesday takes effect in time.

    “Creditors are hoping to gain the protection of legal judgments as quickly as possible, and this could impair Puerto Rico’s chances of getting on a path to stability and eventual growth,” Lew wrote in a letter to the Senate earlier this week. “Some well-funded creditors are working hard to delay legislative action this week, even if it comes at the expense of the Puerto Rican people.”

    Senate Majority Leader Mitch McConnell (R-Ky.) urged his colleagues earlier in the day to support the bill, pushing back against claims that the legislation would provide a taxpayer bailout for the island — a common concern among Republicans.

    “The U.S. territory of Puerto Rico is in crisis and it could be forced to leave residents without essential services,” McConnell said. “This bill won’t cost taxpayers a dime, not a dime. This is the best and possibly the only action we can take to help Puerto Rico.”

    Despite their wariness, Democratic leaders also voted in favor of the bill. Senate Minority Leader Harry Reid (D-Nev.) supported the bill, but like many in his caucus, he was annoyed by the outcome.

    “The legislation before us is far from perfect,” Reid said before the vote. “Oh, is it far from perfect.”

    On Tuesday, Lew visited with a handful of Democrats, trying to secure as many last-minute votes as possible. McConnell and his leadership team did their part to sway Republicans as well.

    The final vote came as no surprise after the upper chamber voted 68-32 to advance the bill earlier in the day. Still, vocal opponents of the bill soaked up the remaining time to criticize what the Obama administration hailed as a compromise.

    Sen. Bernie Sanders (I-Vt.) called it a “terrible piece of legislation” that “must not be passed.” Sen. Bob Menendez (D-N.J.), who spent four hours on the floor Tuesday highlighting every aspect of the bill he had qualms with, argued again on Wednesday that it would give too much power to Republicans on the oversight board, and that it should include representation for the commonwealth.

    Puerto Rican Gov. Alejandro Garcia Padilla, a member of Puerto Rico’s Popular Democratic Party, also expressed reservations with the bill in a CNBC op-ed published Wednesday morning. But he admitted the commonwealth is up against a wall at this point.

    “It creates an oversight board that unnecessarily undercuts the democratic institution of the Commonwealth of Puerto Rico,” Garcia Padilla wrote. “But facing the upsides and downsides of the bill, it gives Puerto Rico no true choice at this point in time. On July 1, 2016, Puerto Rico will default on more than $1 billion in general obligation bonds, the island’s senior credits protected by a constitutional lien on revenues.”

    Next, Obama and party leaders will appoint officials to an oversight board, which would oversee Puerto Rico’s restructuring (if one is deemed necessary) and its economic recovery plan.

    This is an updated version of a story published Wednesday morning.

    Also on HuffPost

    16 Things You Didn’t Know About Puerto Rico

    Congress Edges Closer To Passing Puerto Rico Rescue Package

    By on June 29, 2016

    [NOTE: for live footage of the Senate vote, click here.]

    The U.S. Capitol building in Washington, D.C. (CB photo/Eduardo San Miguel Tió)

    The U.S. Capitol building in Washington, D.C. (CB photo/Eduardo San Miguel Tió)

    WASHINGTON (AP) — Congress edged closer to delivering relief to debt-stricken Puerto Rico as the Senate on Wednesday cleared the way for passage of a last-minute financial rescue package for the territory of 3.5 million Americans.

    Puerto Rico is in a decade-long recession and has $70 billion in debt. A $2 billion payment to creditors is due Friday. Thousands have fled the island and moved to the U.S. mainland as businesses have closed, schools have struggled with limited electricity and hospitals have asked for cash payment in advance for some medication.

    The White House and Republican and Democratic leaders in Congress have warned that without help from Washington, Puerto Rico will descend into economic chaos, with signs already pointing to a humanitarian crisis.

    El Congreso es el que Manda en la Colonia del ELA

    El Congreso es el que Manda en la Colonia del ELA

    On Wednesday, the Senate voted 68-32 to move forward on a rescue package that would create a control board to oversee the U.S. territory’s finances and supervise some debt restructuring. The legislation would not provide any direct financial aid to the territory, but leaders warned that a bailout could eventually become necessary if Congress doesn’t take this step.

    “If we don’t act before the island misses a critical debt payment deadline this Friday, matters will only get worse – for Puerto Rico and for taxpayers,” said Senate Majority Leader Mitch McConnell, R-Ky.

    A final vote could come as soon as Wednesday, if opponents of the measure agree to allow a vote quickly. The House passed the bill earlier this month, so Senate passage would send the bill to President Barack Obama for his signature.

    The control board would be similar to one that oversaw the District of Columbia in the late 1990s. Its seven members would oversee negotiations with creditors and the courts over reducing some debt.

    In addition to creating the board, the bill would require the territory to create a fiscal plan and fund public pensions, which the Puerto Rico government has shorted by more than $40 billion.

    Treasury Secretary Jacob Lew visited Capitol Hill on Tuesday in a bid to persuade some reluctant Democrats concerned that the board would be too powerful. Democrats have also opposed a provision that would allow the island’s government to lower the minimum wage for some younger workers.

    Lew urged senators to vote for the bill even though it isn’t perfect, saying that if the island defaults, the government may be forced to shut public transit, close a hospital or send police officers home.

    He and other supporters warned that if the measure fails to pass before the July 1 payment deadline, the island will face multiple lawsuits from unpaid creditors and could be forced to cut essential services further. The legislation would block creditor lawsuits.

    In a rare case of bipartisanship in an election year, the package had the support of Obama and top Republican and Democratic leaders in the House and Senate.

    “This economic crisis is a humanitarian disaster,” said Senate Minority Leader Harry Reid, D-Nev., who backed the bill despite frustration that Democrats were blocked from making changes. “Medical services have diminished. Hospitals are unable to pay their bills. Puerto Rico’s largest hospital has closed two of its wings, reduced the number of beds by nearly 25 percent, and cut pay for all employees.”

    Some Democrats backed the bill unenthusiastically.

    “I’m not going to let the adequate be the enemy of the barely sufficient,” said Oregon Sen. Ron Wyden, top Democrat on the Senate Finance Committee.

    Others voted against it. Democratic Sen. Bob Menendez of New Jersey monopolized the Senate floor for more than four hours Tuesday evening, arguing that the bill adopts a colonial approach over the territory’s 3.5 million U.S. citizens. He said ordinary Puerto Ricans would have little say over the control board and the package favors hedge-fund creditors over island pensioners.

    Sen. Bernie Sanders, I-Vt., opposed the legislation for similar reasons, calling it “disastrous.”

    Republicans were split. Some said the control board wouldn’t be powerful enough. Others said it was the best path forward.

    “We’re not going to let Puerto Rico go off a cliff here, it’s too important,” said Florida Sen. Marco Rubio.

    The legislation is needed because Puerto Rico cannot declare bankruptcy under federal law. Mainland municipalities and their utilities can, while municipalities and utilities in Puerto Rico cannot.

    In the days before the vote, some bondholder groups worked to turn senators against the bill, arguing it doesn’t sufficiently protect creditors and is tantamount to a bailout for the territory. Several labor unions also lobbied against the measure, arguing that a lower minimum wage could take money out of the Puerto Rican economy.

    Like Lew, Puerto Rican Gov. Alejandro García Padilla made an 11th-hour visit to Capitol Hill to lobby for votes.

    “It’s not perfect, but we need it,” García said Tuesday.

    The Associated Press

    Marcha En Contra de los Aumentos y Abusos

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