WASHINGTON, Feb. 25, 2015 /PRNewswire-HISPANIC PR WIRE/ — On Thursday, February 26 at 3:00 p.m. EST/ 4:00 p.m. AST, following the House Judiciary Subcommittee on Regulatory Reform, Commercial and Antitrust Law hearing, American University’s Professor Arturo Porzecanski will host a call to offer an analysis of the hearing and to present highlights of his own invited submission to the Subcommittee. 

The focus of the Congressional hearing will be House Resolution 870, the “Puerto Rico Chapter 9 Uniformity Act of 2015.” In his submission, Dr. Porzecanski wrote:

“This bill is damaging to what little investor confidence is left in Puerto Rico’s ability and willingness to service its debt obligations. The bill is also unnecessary to deal with the financial problems of state-owned entities in the island. And finally, the bill represents a misallocation of Congressional effort, which would be better spent establishing a Financial Control Board capable of addressing the root causes of Puerto Rico’s urgent economic, financial, and leadership problems.”

H. R. 870 would amend Title 11 of the United States Code to treat Puerto Rico as a State for purposes of Chapter 9 of such title, enabling the Commonwealth to restructure the indebtedness of its municipalities, namely, its political subdivisions and public agencies and instrumentalities.

Date: Thursday, February 26, 2015
Time: 3:00 p.m. EST/ 4:00 p.m. AST
Dial-In: 877-876-9175, 785-424-1668 | Code: AMERICAN
RSVP: Arturo Porzecanski, [email protected]

Written testimony available upon request.

Prof. Arturo C. Porzecanski — Distinguished Economist in Residence and Director of the International Economic Relations Program at American University’s School of International Service, see www.american.edu/sis/faculty/aporzeca.cfm

School of International Service
American University
4400 Massachusetts Avenue, NW
Washington, DC 20016-8071