PROMESA, 4 years later

Four years after the enactment of PROMESA, Puerto Rico still faces massive debt and economic challenges – now, further exacerbated by the 2017 hurricanes, the series of earthquakes that have rattled the island since December 2019, and most recently, the COVID-19 pandemic. Early on, the Center for a New Economy (CNE) warned the measures being considered by Congress would not address the underlying issues affecting the island.

Incertidumbre y turbulencia

Incertidumbre significativa. Esa fue la frase que utilizó Jerome Powell, Presidente de la Junta de Gobernadores del Sistema de la Reserva Federal, para describir la recuperación de la economía de Estados Unidos en su testimonio ante el Comité de Banca, Vivienda y Asuntos Urbanos del Senado de Estados Unidos.


De cara al Plan Fiscal más reciente, Sergio Marxuach presenta dos propuestas de política pública para adelantar el proceso de quiebra actual aún con la gran incertidumbre que existe.

FOMB for Puerto Rico v. Aurelius Investment, LLC

The U.S. Supreme Court ruled that the appointment of the members of the Fiscal Oversight and Management Board (FOMB) did not violate the Appointments Clause of the U.S. Constitution. The Appointments Clause states that the President “shall nominate, and by and with the Advice and Consent of the Senate, shall appoint Ambassadors, other public Ministers and Consuls, Judges of the Supreme Court, and all other Officers of the United States . . .” (Art. II, §2, cl. 2). The members of the FOMB were appointed pursuant to a complicated process that did not require the advice and consent of the Senate.

Sick and Abandoned

For decades, Puerto Rico has received limited funding to run a bare-bones Medicaid program that fails to provide adequate care for 1.5 million people who depend on the program. It is time for Congress to stop nickel-and-diming Puerto Rico’s Medicaid program, and enact a permanent, comprehensive fix.

Shortchanging the Territories in Medicaid Funding

An expansionist outlook of American leaders in the late 1800s led the United States to acquire possessions outside of the contiguous land that we still refer to as “the mainland.” However, other than designing military strategies that would provide the U.S. a geopolitical advantage, little thought was given to how these territories would be governed.

La agenda para el nuevo Congreso

Guiar en Puerto Rico no es fácil.  Siempre existe el riesgo de perder una goma por los numerosos y profundos huecos en las carreteras.  A pesar que todos reconocen el problema, atender el asunto es complicado.