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Tuesday, May 24, 2016

Puerto Rico News Digest For May 24, 2016


From The San Juan Daily Star:

"The U.S. House of Representatives Natural Resources Committee confir-
med that it will hold a hearing Wednesday to vote on legislation that impo-
ses a fiscal control board on Puerto Rico. In an official statement issued late
last week by the committee chaired by Rep. Rob Bishop (R-Utah), the comm-
ittee established that it would begin the mark-up of the bill on Tuesday at 5
p.m. and the process would extend until Wednesday between 10 a.m. and
12:30 p.m., according to a report by CyberNews..."


From Breitbart:

"Two members of a dangerous Puerto Rican gang that operates in a manner
similar to a drug cartel  have been arrested near the Texas border. Federal au-
thorities recently arrested Carlos E.  “El Negro” Carrion Nieves and Orlando
“Elvin” Martinez Nunez near this border city. The two men are named in a six-
count federal indictment out of Puerto Rico, accusing 17 members of the group
with multiple crimes in furtherance of the criminal organization. While federal
authorities do not refer to the Puerto Rican criminal organization as a cartel, a
close look at the indictment reveals that their method of operation is very simi-
lar to those used by drug cartels in Mexico..."


From Caribbean Business:

"Puerto Rico Comptroller Yesmín Valdivieso blasted San Juan Mayor Car-
men Yulín Cruz on Monday, giving a grade of “F” to the mayor’s handling
of the capital city’s finances and refuting the mayor’s claims of having a sur-
plus in the municipal coffers. During an AM news radio interview in Notiuno
630, Valdivieso said that Cruz had earned a failing grade because “she is car-
rying a debt of [around] $888 million as of June 2014.” The comptroller added
that the mayor’s claims of a surplus were “not real because the so-called surplus
is the result of a loan...”


From News Is My Business:

"Puerto Rico Gov. Alejandro García-Padilla on Monday unveiled a proposed
budget for Fiscal 2017 of $9.1 billion, down $700 million from the original
budget that was approved last year and $192 million less than the adjusted cu-
rrent budget. The proposed budget — which must be approved by the Legisla-
ture by June 30, the end of the current fiscal year — is based on an actual pro-
jection of revenues and includes a reduction in the government’s operating ex-
penses of nearly $3 billion, compared with the last spending budget filed by
the previous administration..."

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