House OKs bill to ease Puerto Rico's debt, Senate up next
WASHINGTON (AP) — A rescue package for debt-stricken Puerto Rico has cleared a major hurdle in the House and now heads to the Senate just three weeks before the island owes a $2 billion debt payment to creditors.
The overwhelming, bipartisan 297-127 vote in favor of the bill was a victory for Ryan, who had urged his colleagues, especially reluctant conservatives in the GOP caucus, to back the bill.
A lengthy recession has forced businesses to close, driven up the unemployment rate and sparked an exodus of hundreds of thousands of people to the U.S. mainland.
Despite leadership support, the measure faced opposition from some in the ranks of both parties, as some bondholders, unions and Puerto Rican officials have lobbied against it.
Democrats and labor unions have also opposed a provision in the bill that would allow the Puerto Rican government to temporarily lower the minimum wage for some younger workers.
In a push to get the bill passed, Obama summoned House Democrats with ties to Puerto Rico to a meeting in the Oval Office on Wednesday, including supporters and opponents of the measure.