OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Voting No on PROMESA for Puerto Rico

Statement

Date: June 9, 2016
Location: Washington, DC
Issues: Foreign Aid Foreign Affairs Economy and Fiscal

Congressman Doug Lamborn issued the following statement after the final passage vote on H.R. 5278, the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA).

"Puerto Rico's debt burden is a stark and sad example of the pitfalls of an out-of-control government. Years of unchecked spending and heavy borrowing, a hugely bloated government, and a steady refusal to balance the budget has left Puerto Rico reeling under the weight of massive public debt and unfunded pension liabilities.

While PROMESA attempts to address Puerto Rico's current debt crisis, it falls woefully short on implementing the pro-growth reforms necessary to revitalize the private sector and spur lasting economic development and that's why I voted against it.

The pressure to support this bill has been immense, but faithful stewardship of your taxpayer dollars remains hugely important to me. This was an essential vote representing fiscal discipline and responsibility."


Source
arrow_upward