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Declined: Chapter One Wed Dec 25, 2024 09:00 | M. Zermansky
Introducing Declined: a dystopian satire about the emergence of a social credit system in the U.K. that's going to be published in serial?form?in?the Daily Sceptic. Read episode one here.
The post Declined: Chapter One appeared first on The Daily Sceptic.

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Starmer Doesn?t Have a Feel for Politics and His Team Lacks the Skills to Run the Country, Says Vete... Tue Dec 24, 2024 19:00 | Will Jones
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The post Starmer Doesn’t Have a Feel for Politics and His Team Lacks the Skills to Run the Country, Says Veteran Labour MP Diane Abbott appeared first on The Daily Sceptic.

Church of England Tells Clergy to Edit Christmas Carols to ?Avoid Unnecessary Offence? Tue Dec 24, 2024 18:00 | Will Jones
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The post Church of England Tells Clergy to Edit Christmas Carols to “Avoid Unnecessary Offence” appeared first on The Daily Sceptic.

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Voltaire, International Newsletter N?113 Fri Dec 20, 2024 10:42 | en

Pentagon could create a second Kurdish state Fri Dec 20, 2024 10:31 | en

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Puerto Rico House Approves Public Utility Reform Bill

international | economics and finance | news report

Tuesday February 16, 2016 20:03

by Greg

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Legislation Part of Proposed Debt Deal

Puerto Rico's House of Representatives approved legislation to reform its highly indebted public utility company "PREPA."

The utility company's investors want the reform package before they approve a debt restructuring deal that includes a 15 percent cut in repayments. The bill passed the island's Senate but was amended in the House so will now head back to the Senate for another vote. Puerto Rico is likely to get an extension from lenders on a midnight February 16 deadline to pass the legislation.

"While the deal does offer some relief, it's hardly a model to deal with the island's debt," stated Eric LeCompte, executive director of the religious development coalition Jubilee USA. "If we saw a broader deal along these lines it would fail to bring Puerto Rico's debt back to sustainable levels."

PREPA's $8 billion debt is part of the portion of Puerto Rico's debt impacted by the island's exclusion from Chapter 9 of the US bankruptcy code. Both Republicans and Democrats in Congress have introduced legislation to extend Chapter 9 to Puerto Rico. The US House of Representatives' Natural Resources Committee is drafting legislation to address Puerto Rico's debt crisis and will hold its third hearing on the issue February 25.

"It's clear we are now in a critical stage of this crisis," noted LeCompte, who testified at the Natural Resources Committee's February 2 hearing. "Congress can't stand on the sidelines any longer."

Jubilee USA Network is an alliance of more than 75 US organizations and 550 faith communities working with 50 Jubilee global partners. Jubilee's mission is to build an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

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