Rubio On Puerto Rico Fiscal Crisis

Senator Marco Rubio today reiterated that he’s “open … as a last resort” to granting Puerto Rico legal authority to file a bankruptcy petition, but additionally commented that Puerto Rico must first ¬†“undertake some very difficult reforms in the way it operates and funds its government.” ¬†With proponents of granting Puerto Rico that authority unsuccessful in including it in the recent omnibus spending bill further efforts will likely involve what Rubio is suggesting; significant fiscal controls and limits on Puerto Rico’s borrowing and spending authority as a condition for bankruptcy.

I spoke with Rubio after a presidential campaign appearance in Rochester, New Hampshire.