FEDERALhearing transcript

High Impact

Congressional Hearing on Puerto Rico Financial Oversight

Original title: OVERSIGHT HEARING ON THE NEED FOR THE ESTABLISHMENT OF A PUERTO RICO FINANCIAL STABILITY AND ECONOMIC GROWTH AUTHORITY

January 1, 2016

Puerto Rico financial stability economic policy oversight territorial governance

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The Frame

What this does

The hearing explored the legislative framework for a federal oversight authority to manage Puerto Rico's debt and economic recovery, which directly impacts the island's fiscal autonomy and public service funding.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Residents of Puerto Rico

The proposed financial authority would oversee the island's fiscal management and economic policy decisions.

U.S. Congress

The legislative body responsible for drafting and passing the bill to establish the oversight authority.

What changed

Last recorded activity January 1, 2016.

What's next

Next step not available in the current record.

Summary

This document is a transcript record of a February 2, 2016, U.S. House subcommittee hearing regarding the potential creation of a financial authority to manage Puerto Rico's economic stability. The hearing featured testimony from economic experts, former government officials, and policy advocates.

Key Facts

The hearing was held on February 2, 2016, by the Subcommittee on Indian, Insular and Alaska Native Affairs.
The primary topic was the proposed establishment of a 'Puerto Rico Financial Stability and Economic Growth Authority'.
The hearing included testimony from five expert witnesses representing academia, legal practice, and non-profit advocacy.
The session was conducted under the 114th Congress, Second Session.
The hearing took place in the Longworth House Office Building, room 1334.

Why It Matters

Frequently Asked Questions

What was the purpose of this hearing?

The hearing was held to gather expert testimony on the necessity and structure of a proposed financial authority to oversee Puerto Rico's economic stability.

Who testified at the hearing?

Witnesses included Carlos M. Garcia, Simon Johnson, Eric LeCompte, Thomas Moers Mayer, and Anthony A. Williams.

News Coverage

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Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift100% confidence

Precursor to PROMESA

This hearing served as a foundational legislative discussion for the eventual passage of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA).

Puerto Rico

Connected Entities

personCarlos M. Garcia“CEO of BayBoston Managers, LLC and former Chairman of the Government Development”Map →

personDon Young“Chairman of the Subcommittee on Indian, Insular and Alaska Native Affairs”Map →

personSimon Johnson“Professor at MIT Sloan School of Management”Map →

personEric LeCompte“Executive Director of Jubilee USA Network”Map →

personPedro R. Pierluisi“Resident Commissioner for the Commonwealth of Puerto Rico”Map →

personThomas Moers Mayer“Partner at Kramer Levin Naftalis & Frankel, LLP”Map →

personAnthony A. Williams“Senior Advisor at Dentons US LLP and former Mayor of Washington, DC”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance85
How much this matters to a regular citizen
Controversy60
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz20
Current news / social attention level

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