Puerto Rico Fiscal Relief Bill Proposes To Tap $12B Public Health Fund
The Republican measure would help Puerto Rico avoid a bond default on Jan. 1, but to get to the $3 billion price tag, the bill would use money for research and preventive medicine programs nationwide. The bill summary says the money was as yet “unobligated” and could be “repurposed."
The Wall Street Journal:
Republican Moves On Puerto Rico Show Bipartisan Opening
The proposal would cut in half the portion of the federal payroll tax paid by employees for five years, reducing it from 6.2% to 3.1%. It also calls for greater technical assistance to the island and a series of reports on the territory’s public pensions and health care. (Timiraos, 12/9)
The New York Times' DealBook:
Senate Republicans Introduce Bill For Puerto Rico Relief
The Republicans’ measure would include up to $3 billion in cash relief, a payroll tax break for residents of the island and a new independent authority that could borrow for Puerto Rico — but with no taxpayer guarantee. ... To get the $3 billion, the bill proposed tapping a $12 billion public-health fund created under the Affordable Care Act, for research and preventive medicine programs nationwide. The bill summary said the money was as yet “unobligated,” and could be “repurposed” with federal supervision to help tide Puerto Rico through an alarming cash squeeze this winter. ... On the details of how to revive Puerto Rico’s failing pension system, or changing the way doctors on the island are paid by federal programs like Medicare, the bill proposes only further study. (Williams Walsh, 12/9)
In other news from Capitol Hill, lawmakers are struggling with how to pay for the 9/11 first responders bill --
The Wall Street Journal:
New York Lawmakers Lead Campaign For Health Care Bill For 9/11 First Responders
Lawmakers from New York are leading a determined campaign for legislation to compensate and provide health care for first responders and survivors of the Sept. 11, 2001, attacks. The bill has languished in Congress despite widespread support. (Peterson, 12/9)
