Puerto Rico Sales Tax Financing Corp (COFINA)

The board may choose to approve its own version of the plan by April 20, setting up a legal and political fight for control of the Puerto Rico government.

The vote came as Gov. Rossello said his fiscal plan will not accede to board demands.

Rosselló says that Rep. Rob Bishop is placing the needs of the bondholders over those of Puerto Rico residents.

Other Puerto Rico officials joined Gov. Ricardo Rosselló in resisting the board's demands for austerity

Natural Resources Committee Chairman Rob Bishop complained that "intentional misinterpretations" of the "PROMESA" law may mean U.S. promises to Puerto Rico will take "decades" to fulfill.

Rosselló said PROMESA allows the Oversight Board to make public policy recommendations, but not to order labor law reforms and pension cuts.

Oversight Board is continuing its struggle with the Puerto Rico government over fiscal plans.

The latest proposed fiscal plan may allow up to 29.4% of debt to be paid through fiscal year 2023.

Officials said forgiveness of the Community Disaaster Loan could be considered at a later point.

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The addition of Amazon will mean most of Puerto Rico's online sales will be taxed, one economist said.

Gov. Ricardo Rosselló’s proposal, which leaves room to pay as little as 8% of debt service, is too rosy in its economic assumptions, two economists said this week.

January's General Fund revenues were 12.2 percent below pre-Hurricane Maria projections.

Treasury Secretary Steven Mnuchin says it remains to be decided whether the federal loan will be forgiven

Rosselló doesn't mention Puerto Rico's debt in annual state of the commonwealth speech.

Judge Laura Swain says she has no authority to challenge fiscal plans.

Rosselló is seeking assistance from Congressional leaders as Puerto Rico struggles to get on its feet financially five months after Hurricane Maria.

Creditors have until May 29 to file a proof of claim, though most bondholders won't have to respond because the judge is allowing trustees to file a "master proof of claim."

Puerto Rico's latest fiscal plan represents an improvement over the previous one, which included nothing for debt repayment.

Puerto Rico’s economy in December was 13.3% less active than it had been in August, a report said.