Congressman Jim McGovern

Representing the 2nd District of Massachussetts
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McGovern Calls for Action to Address Puerto Rico Financial Crisis

Apr 26, 2016
Press Release
Ahead of May 1 Deadline McGovern Urges House GOP to Put Politics Aside and Work to Find Bipartisan Solution

WASHINGTON, D.C. – With Puerto Rico just days away from defaulting on a nearly half-billion dollar debt payment, Congressman Jim McGovern (D-MA) called for House Republicans to work with Democrats to find a bipartisan solution.

“With our fellow Americans in Puerto Rico facing a historic financial crisis that grows more serious by the day, the time for Congress to act is now,” Congressman McGovern said. “The future of Puerto Rico’s economy hangs in the balance and it is essential for Congress to pass a bill that would allow Puerto Rico to restructure its debt in a responsible way and get on a path to the firm financial footing going forward.

“Turning our backs on our fellow Americans in Puerto Rico is simply not an option,” McGovern added. “I am grateful to Leader Pelosi and Ranking Member Grijalva for their work to lead bipartisan talks. I urge my Republican colleagues to continue to work with them to move forward with a bipartisan solution that allows Puerto Rico to restructure its debt. I am proud to represent a vibrant Puerto Rican community in Central Massachusetts and will do all I can to ensure that Congress finally fulfills its responsibility to address this financial and humanitarian crisis and help our friends in Puerto Rico in their time of need.”

Impact of Ongoing Puerto Rico Financial Crisis:

Economy

  • 10 percent of the population of Puerto Rico has left in the last decade, including two-and-a-half percent, or 85,000, in 2015 alone.
  • One doctor leaves the island per day.
  • 45 percent  of the population of Puerto Rico lives in poverty.
  • The unemployment rate stands at 11.7 percent, or more than double the national average.

Budget

Education

Healthcare

Housing

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