Amodei Votes to Protect American Taxpayers
FOR IMMEDIATE RELEASE Contact: Logan Ramsey, 202-225-6155
June 9, 2016
WASHINGTON, D.C.– Congressman Mark Amodei (NV-02) today released the following statement after voting in favor of H.R. 5278, the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), a bill to protect American taxpayers from a bailout by forcing Puerto Rico to implement common-sense, conservative reforms to their economic model. This legislation passed the House with a recorded vote of 297-127.
“Hardworking taxpayers should not have to foot the bill for the Puerto Rican government’s irresponsible behavior – and this bill ensures they won’t have to,” said Congressman Amodei.
“Accusations claiming that PROMESA contains a taxpayer bailout are completely false. In fact, the language in this bill would expressly prevent a taxpayer bailout by instituting meaningful reforms that will responsibly restructure Puerto Rico’s debt without using a single taxpayer dollar.
“This territory-specific legislation would not set a precedent for even the most economically strained mainland states to avoid paying debts. The reason it would not is because PROMESA specifically positions the debt restructuring portion under the territories and insular affairs title of the U.S. Code. This means that any application of PROMESA provisions to the States would be ruled illegal based on the 10th Amendment which defines our dual sovereign form of government.
“It’s always gratifying when Congress is able to react to any issue in a timely manner, but we must be onto something if a piece of legislation is able to garner support from Members at complete opposite ends of the political spectrum. When Rep. Raul Labrador (R-ID), whose Heritage Action Scorecard reads 93%, and Rep. Mike Quigley (D-IL) , whose scorecard reads 9%, are supporting the same bill – maybe this is a time where Congress did its job.
“I urge my colleagues in the Senate to join the House in protecting American taxpayers by passing this bill as soon as possible.”