Crist Joins Effort To Disband Puerto Rico’s Financial Oversight & Management PROMESA Board

Today, U.S. Representative Charlie Crist (D-St. Petersburg) announced his cosponsorship of H.R.7409, bipartisan legislation introduced by Rep. Ritchie Torres (D-NY) to provide a process for the dissolution of the PROMESA Financial Oversight and Management Board of Puerto Rico.

The TRUST for Puerto Rico Act would terminate the Oversight Board no later than 90 days after the certification of two balanced budgets and transfers all duties and responsibilities to the Government of Puerto Rico. If the bill is passed by Congress and signed into law by President Biden, it could lead to freedom from the Oversight Board as soon as late 2023 or early 2024.

"After visiting Puerto Rico and hearing directly from the people, I’m proud to cosponsor this bill to end the unelected PROMESA Board. With Puerto Rico out of bankruptcy, the time has come to return power to the people of Puerto Rico," said Rep. Crist. "The PROMESA Board remains a threat to Puerto Rico’s recovery and assets, slowing the progress of economic development and tying the hands of local decision-makers who best understand the needs of Boricuas.”

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