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Press Release

Puerto Rico Bill a Step Toward Solving Island’s Financial Crisis But Needs Improvement

Ahead of the markup of the Puerto Rico Oversight, Management, and Economic Stability Act (H.R. 5278), FreedomWorks Senior Economic Contributor Stephen Moore commented:

05/25/2016
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Press Release

Conservative, Pro-Growth Principles Can Save Puerto Rico

Founder and Chairman of Laffer Associates Dr. Arthur Laffer and FreedomWorks Senior Economic Contributor Stephen Moore have released a study on how Congress can responsibly address the severe debt issues facing Puerto Rico. The study, “How Congress Can Save Puerto Rico from Insolvency,” was sent to House leadership, members of the House Natural Resources Committee, and members of the House Freedom Caucus.

05/05/2016
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Op-ed Placement

How to Turn Puerto Rico into Hong Kong

BY Stephen Moore and Art Laffer

Later this week or next, Congress will take up legislation to rescue the commonwealth of Puerto Rico from its financial crisis that is getting worse by the day.

05/01/2016
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Blog

Puerto Rico Needs Drastic Financial Reform, and Fast

Puerto Rico is in a financial free-fall, and the federal government is actively trying to prevent a total economic meltdown. Recently, legislation was introduced in the House by the Natural Resources Committee to help resolve Puerto Rico’s financial crisis, an effort that is well-intentioned and far superior to any taxpayer bailout of the territory. There are concerns, however, that still need to be addressed before the bill should go forward.

04/13/2016
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Blog

In Search of State Pension Reform

Recently, the public debt crisis in Puerto Rico has sparked widespread discussion about the need for public pension reform. The island territory is already $72 billion in debt, with shortfalls in the public pension fund of up to $30 billion. Without major changes in government spending patterns, Puerto Rico is in danger of becoming insolvent, sending the already brittle economy into a death spiral. While many on the left call for the immediate restructuring of Puerto Rico’s debt, the island’s plight is just the latest example of a state or territory misusing and abusing their public pension system, demonstrating the dire need for reform.

03/31/2016