How can we help with the Puerto Rican crisis?


Puerto_Rico_debt_ap.img_

Background:

On May 1, 2016 Puerto Rico is set to default on yet more bonds, seriously compromising its ability to borrow funds in order to recover from the crisis.  The highest priority bond holders are NOT public services (meaning Hedge funds would potentially be paid back before public services like hospital bills and teacher salaries).

What to do:

There are MORE Puerto Ricans in the US than in the island and we have a right to VOTE! that means that our voice is powerful, but we need to use it.

Status:

There is a bill going through House committees (H.R. 4900) that aims to let Puerto Rico restructure its debt in order to make it through the crisis.  The bill is in three House committees: The Natural Resources, Judiciary and Education & Workforce Committees.  We need to let the committee chairs and our own congressman/congresswoman to continue to move the bill (the Vulture Hedge funds are trying to kill it).     

Interesting reports/coverage of the Puerto Rican crisis

Krueger report- link

Report from Vulture Hedge Funds –“For Puerto Rico, there is a better way” –link

Last Week Tonight coverage with John Oliver (highly recommended)-link

Jones Act- link and link

Tax code 936 – link

Action Needed:

  1. Call the committees the bill is in (This is critical, call them immediately, please don’t delay).
  2. Call your House representative: go here (link) to find out who it is is.
  3. Forward a call to action to your network- post it on Facebook, Twitter, Instagram, send it to your personal contacts. Send Facebook and Twitter messages to the committees and the committee chairs!

Contact Information:

Committee Phone Number Twitter Facebook
Natural Resources 202-225-2761 @natresources

@repgoodlatte (chair)

link
Judiciary 202-225-3951 @housejudiciary

@reprobbishop (chair)

link
Education & Workforce 202-225-4527 @edworkforce

@repjohnkline (chair)

 

link

Talking Points:

Hello, my name is ________ and I’m calling about bill H.R. 4900 regarding Puerto Rico’s financial and social crisis.

Similar to over 5 million Puerto Ricans, I live in the United States mainland, pay taxes here and I work at _______ as a ________ and just like all Puerto Ricans, I am an American citizen (its important to remind them of this, many people don’t know that Puerto Ricans are American citizens).

I am calling on behalf of the other 3.5 million American citizens in Puerto Rico who are about to be in a dire and crippling social and financial crisis.

On May 1st, the island is slated to default on some of the debt and something needs to be done.

 I am calling specifically to ask for the committee (or congressman’s) help in three places:

  1. Encourage Congress to allow Puerto Rico to restructure its debt through bill R. 4900. Puerto Rico, unlike all other US states, cannot file bankruptcy and will not be able to repay the debt or repair its society without the ability to finance.
  2. Eliminate the Jones act– this act forces Puerto Rico to only import on American ships and results in a higher cost of goods that hurts consumption.
  3. Restate a tax relief similar to the 936s that enabled a long, productive period of growth in the island through tax relief to manufacturing companies.

Thank you for your help in this matter, I appreciate the committee’s (or congressman’s) help in solving this critical issue fairly and helping American citizens in this time of need.

 

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One response to this post.

  1. Posted by Dennis on April 29, 2016 at 1:22 pm

    Si se puede!

    Reply

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