Speaker of the Puerto Rico House of Representatives Rafael Hernández Montañez
By THE STAR STAFF
Speaker of the Puerto Rico House of Representatives Rafael “Tatito” Hernández Montañez on Thursday introduced House Concurrent Resolution 70, which seeks to accelerate the departure of the Financial Oversight and Management Board from Puerto Rico and return control of the government to local hands.
The resolution joins the legislative effort in favor of HR 7409, the “Trust for Puerto Rico Act of 2022,” proposed in the U.S House of Representatives by Rep. Ritchie Torres (D-N.Y.).
“We support this legislation proposed by Congressman Torres, because it addresses the structural defects of the PROMESA [Puerto Rico Oversight, Management and Economic Stability Act] law by establishing achievable and measurable objectives for the exit of the Fiscal Control Board,” Hernández Montañez said in a written statement.
The House speaker criticized PROMESA for what he said is its ambiguity, arguing that “it does not guarantee the exit of the Board despite the approval of balanced budgets including the payment of debt service, financial statements are up to date and capital markets can be accessed again.”
This measure is in addition to House Resolution 764, approved in the island House of Representatives with the affirmative vote of four of the five delegations of that body.
“I thank Congressman Torres and his entire team for their commitment and consistency in the fight for the causes of Puerto Rico,” Hernández Montañez said.