April 21, 2016
Dear Members of Congress,
On behalf of Frontiers of Freedom, we write today to express opposition to the “Puerto Rico Oversight, Management and Stability Act” (PROMESA). Upon taking office, Conservatives in Congress made a promise to their constituents and the American people to end Washington cronyism by standing for the rule of law and the interests of the American taxpayer. A vote for the PROMESA does exactly the opposite.
The PROMESA bill is an unapologetic bailout of Puerto Rico’s government on the backs of average everyday American retirees, pensioners and investors across the Country, despite the fact that those bondholders played no role in the Commonwealth’s wanton disregard for the principles of sound governance. Further, the bill threatens to put American taxpayers broadly and directly on the hook for the mess in Puerto Rico. [Read more...]