SSI Litigation Update

There have been two recent developments in the ongoing litigation regarding the application of the Supplemental Security Income program to residents of Puerto Rico.

The Mess in Texas

Last week the people of Texas had their most recent close encounter with extreme weather. For the sixth time in twenty years, temperatures dropped to frigid lows and demand for electricity, as could be expected, shot up. But the manager of the Texas grid was singularly ill-equipped to face this foreseeable contingency.

The Earned Income Tax Credit

The Earned Income Tax Credit (“EITC”), enacted by Congress in 1975, is a tax credit available to working families in the United States whose incomes range from well below the federal poverty threshold to roughly double the poverty line.

Plan de Ajuste

La Junta de Supervisión y Administración Fiscal anunció ayer que “llegó a un acuerdo en principio con varios grupos de acreedores para reducir la deuda de Puerto Rico a niveles sostenibles luego de un exitoso proceso de mediación”. Como resultado de ese acuerdo, la JSAF solicitó a la corte extender hasta el 8 de marzo de 2021 el plazo para presentar un Plan de Ajuste modificado.

President Biden’s First 100 Days

The Biden administration has hit the ground running in a way not seen in Washington in decades. The president has signed dozens of executive orders and signaled he will be sending major legislation to Congress soon.

Revised Plan of Adjustment

Back in February of this year, the Financial Oversight and Management Board for Puerto Rico reached an agreement with holders of $10.6 billion of Puerto Rico’s General Obligation Bonds and filed a proposed Plan of Adjustment with the Title III court.

The intricacies of the election process in the U.S.

This year things are complicated by the COVID-19 pandemic and a record number of voters who have already cast their ballots to avoid the crowd on Election Day. This combination could result in a strange election night.

Ocho meses de pandemia

Hace unos meses tuve la oportunidad de leer una entrada en el blog de Howard S. Marks, cofundador y copresidente de Oaktree Capital Management, titulada “Knowledge of the Future”. Según Marks, “hoy en día todo el mundo tiene los mismos datos sobre el presente y la misma ignorancia sobre el futuro”.