Pelosi Statement Ahead of Senate Vote on Puerto Rico Debt Restructuring Bill

"Earlier this month, the House passed compromise bipartisan legislation to allow Puerto Rico to restructure its public debt.  The legislation was long overdue and the subject of much negotiation working closely with the White House.  Secretary Lew and the Department of the Treasury were a constructive force in finalizing this legislation while respecting differing views.

"Although there is much in this bill I object to, this legislation is essential and the best and only bill that we, in the House, can produce.  Failure to pass this bill would be a tremendous win for the unscrupulous hedge funds that have held this bill up for six months demanding to be first in line over the needs of the people of Puerto Rico.  Unless Congress acts, our fellow Americans in Puerto Rico will be plunged into deep economic turmoil in just three days' time.

"While we respect all stakeholder interests, the needs of our fellow Americans in Puerto Rico must come first.  I join my colleagues Nydia Velázquez, José Serrano and Pedro Pierluisi in urging a yes vote in the Senate tomorrow."