Rep. Poliquin Opposes House Republican Leadership on Puerto Rico Debt Plan
WASHINGTON – Today, Maine’s 2nd District Congressman, Bruce Poliquin, stressed the need for a more effective and responsible plan forward to address Puerto Rico’s debt, breaking from House Republican Leadership and voting against the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA). Congressman Poliquin released the following statement:
“As the former state treasurer of Maine, I champion accountability in our federal government’s spending,” said Congressman Poliquin. “I cannot give a pass to bad fiscal policy, which would enable other local governments to spend just as irresponsibly as Puerto Rico has in the past few decades.
“This is especially important when it jeopardizes so many American families that have purchased and built their hard-earned savings on Puerto Rican bonds.
“If we allow Puerto Rico a way out, without true reforms to fix the problem, it sends a signal to other government entities they can spend recklessly without true penalties.
“This bill doesn’t do anything to adjust Puerto Rico’s misguided tax structure and does not give the territory any incentives for economic growth. The bottom line is that this bill does not do enough and only enables for Puerto Rico’s destructive fiscal policy to continue.”