The House Committee on Natural Resources today passed H.R. 5278, the Puerto Rico Oversight, Management, and Economic Stability Act, with a bipartisan vote of 29-10.  Chairman Rob Bishop (R-UT) issued the following statement:

“Congress has a moral and constitutional responsibility to address the growing crisis in Puerto Rico. The legislation we passed today through Committee provides a responsible framework to do just that. This bill will help Puerto Rico attain solvency and stability while protecting American taxpayers. I want to thank our members on both sides of the aisle for their work to improve this legislation throughout this process. I also thank Speaker Ryan for his commitment to an open committee process and Secretary Lew and Treasury staff for their hard work and collaboration. I look forward to moving this legislation to the House floor in swift and deliberative order.”