Thursday, December 17, 2015

Puerto Rico emerges as key issue in budget fight

Some House Democrats are strongly pushing back against the bipartisan spending bill unveiled late Tuesday because it doesn't include language that would allow Puerto Rico to file for bankruptcy.

Members of the Hispanic Caucus, the Black Caucus and others loudly complained in listening sessions with Democratic Leader Nancy Pelosi that failing to help Puerto Rico deal with a serious debt crisis may lead them to oppose the deal. And with House Speaker Paul Ryan already facing significant defections from Republicans critical of the deal, the prospects of Democrats peeling off in big numbers complicates the math for getting the needed 218 votes for the deal on a vote slated for Friday.
"There is not an insignificant level of anxiety" among House Democrats, Rep. Steve Israel of New York told CNN about the spending package, saying it is fueled mainly by complaints about the lack of action on Puerto Rico, but also by a move to do away with a 40-year-old ban on exporting crude oil.
The rumblings about the Puerto Rico issue got loud enough that Ryan, seeking to protect the deal, released a statement Wednesday vowing to take action on the issue next year.
"While we could not agree to including precedent-setting changes to bankruptcy law in this omnibus spending bill, I understand that many members on both sides of the aisle remain committed to addressing the challenges facing the territory," Ryan said, pledging committees would draft a remedy in the first quarter of 2016.
House Democrats are slated to huddle behind closed doors on Thursday morning to plot a path forward. The opposition that became apparent Wednesday afternoon marked an escalation from the initial response to the massive 2,009-page spending bill -- plus a separate package of $650 billion in tax breaks -- congressional leaders agreed to late Tuesday night. The package left members of both parties grumbling but generally feeling that it included provisions they support.
The year-end crush on the large and complex bills comes days before the Christmas holidays. With the tight calendar, and arguments that there is something good for everyone in the bill, leaders still hope to cobble together bipartisan votes on both items before the week is out.


Puerto Rico emerges as key issue in budget fight

No comments: