Press Releases

Virgin Islands Congresswoman Stacey Plaskett released the following statement in response to H.R. 5278, the Puerto Rico Oversight, management and Economic Stability Act (PROMESA) passing the House Committee on Natural Resources:

“Today my colleagues, on the House Committee on Natural Resources voted on passage of H.R. 5278 to address the Puerto Rico debt crisis. While I am disappointed the legislation will be moving forward with the proposed Oversight Board for the Virgin Islands and other U.S. Territories, I am pleased that the Chairman Rob Bishop (R-Utah) of the Natural Resources Committee has made a commitment to working on language regarding the other territories. I am grateful for the support of Governor Kenneth Mapp and other members in articulating the concerns of the Virgin Islands in potential costly ramifications of our inclusion in this measure. I would especially like to thank my colleague, Rep. Tom MacArthur (R-NJ), for offering an amendment, which would have restored the bill to its original intent for a Puerto Rico Oversight Board and essentially uphold the financial autonomy of the Virgin Islands and the other U.S. Territories—something that will allow for us to continue in the bond market without changes to investor risk assessment. I have spoken with House leadership and they have committed to having substantive discussions on how to alleviate concerns of the Virgin Islands and other territories, as well as supporting future legislation that will offer real economic support and equitable treatment to the territories.”

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