Puerto Rico in Trouble

Calling on President Obama to create a federal investment plan that "grows the economy with good paying jobs" with a focus on the health care and clean energy sectors. The action agenda also calls for the clean up of Puerto Rican islands that were contaminated by years of Pentagon target practice and weapons testing.

Rolling back federal regulations like the Jones Act, which requires that all maritime trade cargo between Puerto Rico and the U.S. mainland be carried on U.S.-flagged commercial vessels. Island boosters want Congress to repeal the act saying it hurts island consumers and businesses by raising shipping costs.

Calling on Congress to pass legislation to grant Puerto Rico a Chapter 9 bankruptcy option to give the commonwealth the kind of flexibility Detroit had in reorganizing its finances.

Requesting that President Obama convene his Working Group on Financial Markets to bring all of Puerto Rico's public debt stakeholders together to negotiate a "fair" debt repayment plan as well as explore a loan from the Federal Reserve.

Asking both President Obama and Congress to "oppose severe austerity and wage reduction proposals" that would target "poor and working families."   Puerto Rico is excluded from the Supplemental Security Income program that aids the most vulnerable Americans. It does not participate in the federal nutrition program, instead receiving a block grant that shortchanges it by $450 million a year. Puerto Rico is partly excluded from the child tax credit and fully from the earned-income tax credit, which encourages low-income individuals to seek employment. Unlike a state, Puerto Rico cannot authorize its public enterprises to seek relief under Chapter 9 of the federal bankruptcy code, which impedes its recovery.

It is little wonder, then, that Puerto Rico is in recession, has excessive debt and is bleeding population. Unequal treatment at the federal level, combined with mismanagement at the local level, has a debilitating effect on the island’s economy. To compensate for the lack of federal support, the Puerto Rico government has borrowed heavily. And when my constituents move to the States, they are entitled to vote for their national leaders and to equal treatment under federal law. So naturally they leave.

Having misdiagnosed Puerto Rico’s illness, many commentators prescribe the wrong cure, like exempting Puerto Rico from the federal minimum wage. A far wiser proposal would be to grant Puerto Rico more equitable treatment under federal spending and tax credit programs. The goal should be to close the gap with the states, not widen it.

Puerto Rico and its people are in trouble. Something must be done. Its the only part off us left. As American Citizen for those in Puerto Rico have no rights, we have endure so much pain we are loosing Puerto Rico, this can't happen. Its is time to stand up and fight for our right as Americans. We must save Puerto Rico, or we will not have a place to call home.

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