Position on Puerto Rico inaccurately stated
Unfortunately, recent news stories have inaccurately stated my position on allowing Puerto Rico to utilize Chapter 9 of the U.S. Bankruptcy Code. Because of these stories, this confusion recently made its way to the Northern Virginia Daily in a letter published on May 20 [“Congress should not bail out Puerto Rico”]. The record must be corrected. Allowing Puerto Rico to utilize Chapter 9 of the U.S. Bankruptcy Code deserves close and deliberate examination, but by no means have I backed such a proposal.
The House Judiciary Committee, which I chair, recently held a hearing to gather more information on this issue, evaluate H.R. 870, and to hear from stakeholders. Not once at the hearing did I express support for this legislation. My statement at the hearing makes that clear.
As the committee with jurisdiction over our nation’s bankruptcy laws, the House Judiciary Committee regularly reviews and evaluates proposals to amend these laws and our recent hearing on allowing Puerto Rico to file for bankruptcy was simply part of this review. Certainly anyone can agree that an issue of this magnitude deserves careful review, but that is not cause to jump to any conclusions. I appreciate hearing from folks in the Sixth District about their opinions on legislation before Congress, and I encourage them to stay in touch.
Bob Goodlatte, Roanoke
Member of Congress