AGC Supports Sensible Fiscal Reform for Path Forward
On May 25, the House Natural Resources Committee passed legislation that with sensible fiscal reforms—and no taxpayer dollars for a bailout—to address the financial crisis in Puerto Rico. The AGC-backed bill would create a debt-restructuring process, empower a federal oversight board to supervise the territory’s fiscal affairs and create a redevelopment authority that will help rebuild Puerto Rico’s infrastructure. As it stands, many Puerto Rican government entities are unable to pay contractors for work completed on government construction projects and the public and private construction markets there remain on life support.
For more information, contact Jimmy Christianson at 703-837-5325 or christiansonj@agc.org.