Puerto Rico Sales Tax Financing Corp (COFINA)

The deal for new bonds will likely be passed but experts say the final Plan of Adjustment may not lead to a sustainable recovery for the island.

The Oversight Board must lobby Congress and the Biden administration to take a hard stance and pass a new federal debt limit for Puerto Rico, like the one repealed in 1961.

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

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.

Federal benefits for Child Tax Credits will also be expanded.

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.

Island employment was up overall from 2020 figures.

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.