Puerto Rico

As of Wednesday afternoon the Puerto Rico Electric Power Authority was in talks about Friday's debt payment.

The Senate is poised to pass the Puerto Rico rescue bill after clearing what many say was the final hurdle for the legislation on Wednesday morning, invoking cloture by a vote of 68 to 32.

Puerto Rican legislative leaders are debating how much the government should allocate to debt service versus other needs in the budget for fiscal year 2016-2017.

The Senate is poised to begin debate on the House’s Puerto Rico rescue bill Wednesday morning with a possible final vote taking place later in the day.

Senate Majority Leader Mitch McConnell late Monday filed for cloture on the Puerto Rico rescue bill currently waiting for Senate consideration, setting up a procedural vote for as soon as Wednesday morning.

The Puerto Rico Energy Commission approved a provisional 1.3 cents per kilowatt-hour increase in Puerto Rico Electric Power Authority rates.

Treasury Secretary Jack Lew added to the pressure for quick passage of a Puerto Rico rescue bill in a letter to the Senate leadership on Monday, even as some public finance professionals maintain the bill is unnecessary and could be harmful for the commonwealth.

Puerto Rico said it would not be paying bond anticipation notes from the Puerto Rico Infrastructure Finance Authority.

A debate about a bill to help the Puerto Rico Aqueduct and Sewer Authority sell a bond has degenerated into angry exchanges between Puerto Rico House and Senate leaders.

Puerto Rico and Obama administration officials said on Thursday it is imperative that a House bill designed to help the commonwealth be passed into law before the territory’s expected debt payment default on July 1.