Robert Menendez (D-N.J.) is leading a group of lawmakers in pushing for an amendment to the House-passed rescue bill for Puerto Rico – even if it means passing the debt-relief package after the July 1 deadline. “However, we’re keeping close watch on what’s happening in Puerto Rico and staying vigilant to protect the industry and the people who value dietary supplements”.
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“In addition to the additional financial cost of registration, the administrative costs of providing duplicative information already provided to the FDA, and the burdensome new information will make doing business in Puerto Rico costlier than any other US state or territory”, NPA explained in its talking points distributed before last weekend’s ruling.
Sen. Bill NelsonBill NelsonDem senator urges support for House Puerto Rico bill Senate narrowly rejects new Federal Bureau of Investigation surveillance Senators roll out bipartisan gun proposal MORE (D-Fla.) is pushing his colleagues to back a House-passed Puerto Rico debt-relief bill ahead of a looming July 1 deadline. If the Senate passes amendments, the House would have to approve the new bill after July 5th when it is back in session. “We can not allow this to happen”, Ryan said on the House floor just before the chamber overwhelmingly passed the bill 297-127 on June 9. The bill includes a provision that puts a temporary stay on any litigation against the government of Puerto Rico, and it would go into effect the moment the president signs the legislation. I do not like that it doesn’t add a mechanism to make our economy grow, but what is the alternative right now? Gov. Alejandro Garcia Padilla said in Washington last week. “We need to act, and this bill is the only bill moving”.
Senate Democratic Leader Harry Reid of Nevada is so far withholding his support from the bill, partially over the minimum wage provision.
Some creditors have lobbied conservatives to oppose the measure, arguing that the bill is unfair to banks and tantamount to a bailout for the territory. The Senate is expected to start voting on the bill toward the middle or end of the week.
The House has passed a bill to help the island restructure its debt, but the Senate has yet to vote on it. McConnell has said the upper chamber will vote this week, but given the limited time left – and indication from Democrats that they want amendments – things could get tricky.
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“In the event of default, and if creditor lawsuits are successful, a judge could immediately order Puerto Rico to pay creditors over essential services such as health, education, and public safety”.
