Puerto Rico Public Buildings Authority

The Plan of Adjustment confirmation hearing will still begin on Nov. 8.

The move could push the Plan of Adjustment, and debt restructuring, closer to the finish line, although the Senate president listed eight more concessions he wants.

While there is no formal deal between the board and the local government, the bill may ultimately serve as a comprehensive bargain.

Judge Swain said she would rule on Sept. 30 on extending the Oct. 4 deadline for voting.

Gov. Pedro Pierluisi signed increases into law on Tuesday but economists are skeptical they will help the island's economy.

The board sent mixed signals on a possibility of deal with legislature on pension cuts.

The local government is trying to apply pressure on the board to get its way on the Plan of Adjustment.

Judge Swain rejected the governor's request to stay the board's suit until November.

If residents become eligible for the government money, it would increase income and spending, providing a lift to the commonwealth's economy.

The local planning board is more optimistic about the next 10 years of Gross National Product growth than is the Oversight Board.

Pierluisi filed a request to stay the adversary proceeding in late August. Since then, the board and Puerto Rico House and Senate leaders told the court they oppose the stay.

The governor is asking for a stay until the court decides on the Plan of Adjustment.

Federal benefits for Child Tax Credits will also be expanded.

The governor and the Oversight Board had yet to offer an opinion on the increase.

The board bars implementing a 2020 law and is threatening legal action if the local government does not cooperate.

Both board members and government officials reiterated their stances on cuts to public pensions — for and against — but neither party said agreements had been reached during the meeting.

Funding would be offered, perhaps for pensions, in exchange for a debt restructuring.

The governor and the legislature are at odds on how to make the increases, which could affect more than half of the workforce.

The underestimate came as the board was concerned about the impact of COVID-19 on the island's economy.

Even if the Oversight Board can legally approve new debt for the deal, some market participants say the future "willingness to pay" is the larger consideration.