Minority Leader Charles E. Schumer said Tuesday that the island territory of Puerto Rico is in need of greater federal assistance and called on the White House to step up the aid being sent there.
President Barack Obama signed legislation on Thursday aimed at helping Puerto Rico manage its debt crisis. (Bill Clark/CQRollCall File Photo)
President Barack Obama on Thursday signed into law legislation aimed at rescuing Puerto Rico from its debt crisis.
The measure cleared by the Senate on Wednesday would put a halt to creditor lawsuits against the island and would provide a pathway for debt restructuring. It would also establish a seven-member oversight board to manage its finances. The House acted earlier in June.