Senate Rushed To Pass Bipartisan Puerto Rico Legislation

In the wake of the US House passing a bi-partisan bill addressing Puerto Rico’s debt issues, eyes turn to the Senate. This is where a rush to finalize a deal still involves negotiation, but Senators are required to cram on this exam as issue divisions are drawn and a July 1 vote deadline approaches. In this environment of “Budget Madness,” a June 16 Height report under the same title notes that bondholders could receive “higher-than expected payouts” as political patronage is addressed.

Political leadership in Puerto Rico having issues with control of patronage spending

On April 15, ValueWalk first reported the Puerto Rico bill was likely headed towards a bi-partisan debt compromise, which ultimately resulted in a House vote approving the Puerto...