Puerto Rico Likely To Get Chilly Reception In Congress Without Meaningful SacrificeMark Melin
Puerto Rico, which could run out of cash by year end, unveiled a debt restructuring plan today that might be most notable for what was missing. While the plan proposed installing new accounting and financial systems, consolidating schools and decreasing tax evasion while increasing revenue capture, all optimistic if relatively painless “solutions,” the real pain appears to have been left out.
Puerto Rico plan still has budget gap of nearly $13 billion as . . .
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