Puerto Rico markup unlikely this week

By COLIN WILHELM 04/18/16 04:38 PM EDT

House Natural Resources Committee Chairman Rep. Rob Bishop listens to testimony on Capitol Hill on April 13 during a legislative hearing on a discussion draft of the "Puerto Rico Oversight, Management, and Economic Stability Act." Read more: http://www.politico.com/story/2016/04/puerto-rico-government-default-bill-222104#ixzz46DLdWoDN  Follow us: @politico on Twitter | Politico on Facebook

House Natural Resources Committee Chairman Rep. Rob Bishop listens to testimony on Capitol Hill on April 13 during a legislative hearing on a discussion draft of the “Puerto Rico Oversight, Management, and Economic Stability Act.”

The Natural Resources Committee will not mark up its bill to address Puerto Rico’s fiscal crisis this week, according to sources in House Republican leadership.
The committee would have to publish a hearing memo Tuesday in order to hold a markup on Thursday, the last day the House is in session this week. But sources in leadership told POLITICO that won’t happen.

A committee spokesman wouldn’t rule it out though. “We have not ruled out the potential for a markup this week,” he said.
Puerto Rico’s Government Development Bank is expected to default on all or a portion of payments due next month, when it owes $422 million. The commonwealth’s governor ordered public corporations to place a moratorium on debt payments earlier this month.
The next major payments due from Puerto Rico come due July 1.
A markup delay signals that House leadership and the Treasury Department need more time to sew up enough votes through tweaks to the bill and assurances on its effects.
When asked Friday what direction on the political spectrum the legislation could be pushed to satisfy more members in order to move it through the House, Natural Resources Committee Chairman Rob Bishop responded, “Both.”
“That’s why I have new respect for leadership around this place. Look, this is too major of an issue to be partisan. And I don’t want to break it down to that. And so far we haven’t been,” said Bishop, who expressed doubt then that a markup could happen this week.
Read more: http://www.politico.com/story/2016/04/puerto-rico-government-default-bill-222104#ixzz46DLH5YlY
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