Grayson Cites Discrimination in Puerto Rican Debt Crisis

Instead of equal treatment the island is being forced into second-class citizenship

WASHINGTON D.C. – Puerto Rico’s governor, Alejandro Garcia Padilla, announced Sunday that the island’s Government Development Bank (GDB) will default on a $422 million payment due to creditors today. The U.S. territory’s debt crisis is a problem created by Congress and made worse by Congress.

“Every state, every city, and every county in the United States can go bankrupt except Puerto Rico,” said Rep. Alan Grayson (D-FL). “It’s a matter of equal treatment for Puerto Rico to have bankruptcy protections. This situation was born in inequality; the solution is equality,” said Grayson.

“The basic problem in Puerto Rico is very simple, and it’s discrimination,” said Rep. Grayson.

Grayson notes the Republican solution is predatory. Seeing an opportunity, financial predators are circling around the island to exploit the crisis and impoverish the people even more. They’ve dubbed simple bankruptcy protections as a “bailout,” which muddies the real issue at stake: fairness under the law.

Sadly, the House of Representatives missed the opportunity to pass legislation that would have prevented Puerto Rico – currently $72 billion in debt – from defaulting on its latest bond repayment. Seeing an opportunity for big moneyed interests, Republicans plan for Puerto Rico to be under federal oversight, a proposal House Democratic Leader Nancy Pelosi describes as “undue and undemocratic control.” This restructuring board would have the option of lowering the minimum wage, an opportunistic sucker punch to working Puerto Ricans.

“The Republican Party’s plan to rescue Puerto Rico comes with a price, which is the establishment of an oversight board,” said Grayson. “This is a concerted effort to reduce Puerto Rico to neocolonial status.”

“You shouldn’t have to pay a price for equality, because equality should come free,” said Grayson. “In every form of life touched by the government, things as diverse as taxes and transportation, there is one rule for the mainland, and a different rule for Puerto Rico. If we simply had equality, if we had one class of citizenship, instead of second-class citizenship, then we could avoid this crisis.”

Congressman Alan Grayson represents Florida’s 9th Congressional District, which includes Osceola County, as well as parts of Orange and Polk counties.

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