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GRAVES AMENDMENT: No Bailout for Puerto Rico

May 25, 2016
Press Release
Committee passes Graves amendment banning the use of federal dollars to pay Puerto Rico's debt.

An amendment by Congressman Garret Graves (R-LA) banning the use of taxpayer dollars to pay down Puerto Rico's debt passed today as the House Natural Resources Committee advanced legislation (H.R. 5278) to address the territory's financial crisis ahead of a potential default on July 1.

"Diverting Louisiana tax dollars to bailout Puerto Rico’s financial mismanagement is unfair to our state and would not solve the long-term problems in Puerto Rico," said Graves. "Our amendment makes it clear that the bill is not a bailout."

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