CD128: Crisis in Puerto Rico

Puerto Rico is in trouble and only the U.S. Congress can help the island of U.S. citizens. Does the bill quickly moving through Congress actually help Puerto Rico? Executive Producer: Kevin Please support Congressional Dish: to contribute with PayPal or Bitcoin; click the PayPal "Make it Monthly" checkbox to create a monthly subscription to support Congressional Dish for each episode via Patreon Mail Contributions to: 5753 Hwy 85 North #4576 Crestview, FL 32536 Thank you for supporting truly independent media! Bill Highlights Definitions : "Any political subdivision, public agency, instrumentality - including any instrumentality that is also a bank - or public corporation of a territory, and this term should be broadly construed to effectuate the purposes of this Act." : "To provide a method for a covered territory to achieve fiscal responsibility and access tot he capital markets." Article IV, section 3 of the Constitution "Provides Congress the power to dispose of and make all needful rules and regulations for territories." The Oversight Board will have the power to demand budgets from any public agency. The Oversight Board has the power to exclude any public agency from the requirements of this law. Seven members appointed by the President. Six of the selections will be from lists created by Congress. Two people must be selected from two different lists submitted by the Speaker of the House of Representatives Two people must be picked from a list created by the Majority Leader of the Senate One person must be selected from a list created by the House Minority Leader One person must be selected from a list created by the Senate Minority Leader One person will be picked by the President on the board has to be a territory resident or "have a primary place of business in the territory" The The Governor, or his designee, will be an : 3 years : Can be done by the President "only for cause" : The member can serve until someone else is appointed. Must have "knowledge and expertise in finance, municipal bond markets, management, law, or the organization or operation of business or government" No one who has worked for the territory's government is allowed on the Oversight Board Rules for the Oversight Board The work of the Oversight Board : Approve of fiscal plans Approve a budget To waive a law To approve or disapprove an infrastructure project The Oversight Board can change the territory's laws "with the greatest degree of independence practicable" The Oversight Board may conduct their business . The Board will determine his/her salary The Executive Director , as long as none of them get more than he does. Are allowed but need to be publicly disclosed "The Executive Director and staff of the Oversight Board may be appointed and paid governing appointments and salaries. Any provision of the laws of the covered territory governing procurement shall not apply to the Oversight Board." The Oversight Board "shall have the right to secure copies, whether written or electronic, of such records, documents, information, data, or metadata from the territorial government" about how much money they think they're owed Failure to obey an Oversight Board will be punished in court according to territorial laws. The Oversight Board must "ensure prompt enforcement" of any territorial laws "prohibiting public sector employees from participating in a strike or lockout Any legal action against the Oversight Board must be filed in a United States district court for the territory, or in the US District Court for Hawaii if that territory doesn't have one. The courts to consider challenges to the Oversight Board's certification determinations The Oversight Board will be in an amount chosen by the Oversight Board. Until the territory creates the law providing permanent funding, the territory must transfer whatever the Oversight Board requests in its budget - at least - to a fund controlled by the Oversight Board. The Oversight Board to give some money back The territory is prohibited from exercising any oversight of the Oversight Board activities or from enacting any law related to the Oversight Board that "defeat the purposes of this Act" Fiscal plans submitted by the Governor will have to get certification from the Oversight Board. A fiscal plan developed by the Oversight Board will be If the Governor and Legislature don't have a budget certified by the first day of the fiscal year, the Oversight Board's budget . Contract Reviews The Oversight Board can "to ensure such proposed contracts promote market competition" Sense of Congress: Territorial government should be a If a "contract, rule, regulation, or executive order" fails to comply with Oversight Board policies, the Oversight Board The Oversight Board will be able to rescind any law enacted between and the day all members and the Chair of the Oversight Board are appointed. They comply with a court order, implement a Federal Government program, implement laws that match Oversight Board policies, or maintain Federally funded mass transportation assets. The Oversight Board to make recommendations to change how pensions are paid to government employees and to transfer government services and entities to the private sector The Board to cut budgets for services, institute hiring freezes, and cut off agencies from making financial transactions. Will need the approval of 5/7 Oversight Board members As long as the Oversight Board is in operation, the territorial government . The territory needs to balance its budget for 4 consecutive years and the Oversight Board must certify that the banks are willing to lend to the territorial government The territories' debt is not backed by and will not be paid by the United States. (the bankruptcy chapter) to restructure it's debt. Banks ("creditors") that to a payment moritorium will not be bound by it. Allows the Governor of Puerto Rico to [lower the minimum wage to for new employees until the Oversight Board is terminated, not more than four years. Lawsuits against Puerto Rico for repayment are prohibited from the day of enactment of this law until . Revitalization Coordinator There will be a Revitalization Coordinator under the command of the Oversight Board, who will be . The Revitalization Coordinator must have in the planning, predevelopment, financing, development, operations, engineering, or market participation of infrastructure projects who isn't currently contracting with the government of Puerto Rico and was not a former government employee after 2012. The Revitalization Coordinator will be . Project Assessments Will include how the project contributes "to transitioning to " Expedited Permits Relevant agencies of Puerto Rico's government need to create an for the infrastructure projects declared "critical" by the Revitalization Coordinator. "Any transactions, processes, projects, works, or programs essential to the completion of a Critical Project shall continue to be processed and completed under such Expedited Permitting Process " If a project is determined by "the Planning Board" to likely affect the implementation of existing Puerto Rican land use plans or an approved Integrated Resource Plan, the project will be for Critical Project designation. The Oversight Board can that would "adversely impact the Expedited Permitting Process Limited Access to Courts Lawsuits against a "critical project" must be brought of the decision the lawsuit would challenge. Vote June 9, 2016: Passed the House of Representatives Sound Clip Sources TV Episode: , April 17 2016. TV Episode: , March 8, 2015. Hearing: , House Committee on Natural Resources, May 25, 2016. Hearing: , House Committee on Natural Resources, May 24, 2016. Hearing: , House Financial Services Subcommittee on Oversight and Investigations, February 25, 2016. Hearing: , United States Senate Committee on the Judiciary, December 1, 2015. Hearing: , Senate Judiciary Committee, December 1, 2015. Additional Reading Article: By Mary Clare Jalonick, Associated Press, ABC News, June 21, 2016. Article: By Erik Larson, Bloomberg, June 21, 2016. Article: By Rachel Greszler, The Daily Signal, June 13, 2016. Article: By Lydia Wheeler, The Hill, June 13, 2016. Article: By Rachel Greszler and Salim Furth, The Daily Signal, June 8, 2016. Article: By Mike DeBonis, The Washington Post, May 23, 2016. Articles: , The New York Times, Last Updated May 23, 2016. Article: By Ryan Grim and Paul Blumenthal, The Huffington Post, May 13, 2016. Articles: , The New York Times, Last Updated May 7, 2016. Article: By Jon Greenberg, Politifact, April 27, 2016. Article: By Rupert Neate, The Guardian, February 14, 2016. Article: By Maria Levis, Health Affairs Blog, December 29, 2015. Article: By Jonathan Mahler and Nicholas Confessore, The New York Times, December 19, 2015. Article: By Chris Bury, PBS, August 13, 2015. Article: , By Jose Fajgenbaum, Jorge Guzman, and Claudio Loser, Centennial Group International, July 2015. Article: By Michelle Kaske, Bloomberg, May 19, 2015. Article: By Larry Rohter, The New York Times, May 10, 1993. Additional Information Documentary: Website: , May 25, 2016. OpenSecrets: Website: OpenSecrets: OpenSecrets: . . , February 6, 1952. Reports By R. Sam Garrett, June 25, 2013. Music Presented in This Episode Intro & Exit: by (found on by mevio) Cover Art Design by