[Congressional Record Volume 162, Number 140 (Thursday, September 15, 2016)]
[Senate]
[Pages S5836-S5837]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
PUERTO RICAN TASK FORCE'S INTERIM REPORT
Mr. HATCH. Mr. President, pursuant to section 409 of the Puerto Rico
Oversight, Management, and Economic Stability Act, or PROMESA, P.L.
114-187, the bipartisan Congressional Task Force on Economic Growth in
Puerto Rico has been charged with compiling a report by December 31,
2016, that identifies impediments to growth and recommends changes to
promote long-term economic growth and stability, spur new job creation,
reduce child poverty, and attract investment in the territory.
The statute also requires submission of an interim report on the
status of the task force's efforts to the House and Senate. As chairman
of the task force and after having submitted this report to leadership
of both parties in the Senate and the House, I ask unanimous consent
that the report be printed in the Record.
There being no objection, the material was ordered to be printed in
the Record, as follows:
Congressional Task Force on Economic Growth in Puerto Rico
STATUS UPDATE TO THE HOUSE AND SENATE
Background:
On June 30, 2016, the ``Puerto Rico Oversight, Management,
and Economic Stability Act,'' or ``PROMESA,'' was signed into
law (Public Law 114-187). Section 409 of PROMESA establishes
an eight-member Congressional Task Force on Economic Growth
in Puerto Rico (hereafter, ``Task Force'').
The Task Force has two basic charges:
1. To issue, between September 1, 2016 and September 15,
2016, a status update to the House and Senate that includes--
a. information the Task Force has collected; and
b. a discussion on matters the chairman of the Task Force
deems urgent for consideration by Congress.
2. To issue, not later than December 31, 2016, a report of
Task Force findings to the House and Senate regarding--
a. impediments in current Federal law and programs to
economic growth in Puerto Rico including equitable access to
Federal health care programs;
b. recommended changes to Federal law and programs that, if
adopted, would serve to spur sustainable long-term economic
growth, job creation, reduce child poverty, and attract
investment in Puerto Rico;
c. the economic effect of Administrative Order No. 346 of
the Department of Health of the Commonwealth of Puerto Rico
(relating to natural products, natural supplements, and
dietary supplements) or any successor or substantially
similar order, rule, or guidance of the Commonwealth of
Puerto Rico; and
d. additional information the Task Force deems appropriate.
Further, PROMESA urges the Task Force's final report to
reflect the shared views of all eight members ``to the
greatest extent practicable.'' PROMESA also directs the Task
Force to consult with the Puerto Rico Legislative Assembly,
the Puerto Rico Department of Economic Development and
Commerce, and the private sector of Puerto Rico.
Task Force Members were selected in July in accordance with
specifications in PROMESA, and are as follows: Senator Orrin
Hatch, (R-UT); Senator Robert Menendez (D-NJ); Senator Marco
Rubio (R-FL); Senator Bill Nelson (D-FL); Representative Tom
MacArthur (R-NJ); Resident Commissioner Pedro Pierluisi (PR);
Representative Sean Duffy (R-WI); Representative Nydia
Velaquez (D-NY).
This report provides the status update pursuant to the Task
Force's first basic charge, highlighting information the Task
Force has collected and outlining the Task Force's ongoing
activities related to information gathering, analysis of
policy options, and communication with stakeholders.
Residents of Puerto Rico and their families face numerous
challenges to economic growth along many dimensions affected
by Federal law and programs, including health care,
government finances, economic stagnation, population loss,
and sectoral inefficiencies. In addition, Puerto Rico is
confronting challenges shared with several states related to
the Zika virus and faces the highest number of confirmed
cases of any U.S. jurisdiction. Task Force Members are
actively working to arrive at a consensus in order to provide
Congress with findings and recommendations as called for
under PROMESA.
Information the Task Force has collected:
Data
Task Force staff convened a meeting with researchers from
the Federal Reserve Bank of New York to discuss sources of
data on Puerto Rico's economy and financial activities. The
Federal Reserve Bank of New York oversees the Second District
of the Federal Reserve System, which includes Puerto Rico.
Researchers and analysts at the Federal Reserve Bank of New
York have a long history of monitoring economic and financial
developments in Puerto Rico and provided useful information
to Task Force staff on available data to assist the Task
Force in analyzing the economic and financial environment in
the territory.
Task Force staff have also been in contact with entities
within Puerto Rico, including the Puerto Rico Institute of
Statistics (Instituto de Estadisticas de Puerto Rico), to
obtain the best available information about Puerto Rico's
economic and fiscal situation.
Like other observers, the Task Force is concerned about the
relative lack of reliable data pertaining to certain aspects
of the economic, financial, and fiscal situation in Puerto
Rico, which are necessary for productive analyses that may
lead to sound public policy recommendations.
Therefore, the Task Force intends to analyze the extent to
which Federal statistical products that measure economic and
financial activity in the states might also provide
equivalent information for Puerto Rico and other territories,
and the Task Force intends to explore ways in which any such
data gaps can be responsibly closed.
Task Force Email Portal
The Task Force established an email portal--
[email protected] issued press releases calling
on stakeholders to submit their input to this portal. These
written submissions, from both the public and private
sectors, will be useful to the Task Force as it works to
arrive at bipartisan recommendations. All submissions will be
considered part of the public record and the Task Force
intends to publish them prior to or along with its final
report. To date, the Task Force has received approximately
335 submissions to the email portal from individuals and
organizations representing a wide variety of interests. Task
Force staff have begun analyzing these submissions and will
continue to do so as the year progresses.
The Task Force initially announced a deadline for
submission to the email portal of September 2, 2016. The Task
Force has since extended the deadline until October 14, 2016
in order to cast the widest net possible and to ensure that
stakeholders have ample opportunity to provide input.
Federal Agencies
As a U.S. jurisdiction, Puerto Rico is affected by Federal
laws enacted by Congress and administered by Federal
agencies. Accordingly, the Task Force, in order to fulfill
its charges under PROMESA, will require input and cooperation
from various Federal agencies and offices Task Force staff
have begun, and will continue, to contact congressional
liaisons from Federal agencies and offices to schedule
briefings and facilitate information sharing.
Thus far, Task Force staff have contacted officials at the
U.S. Department of Health and Human Services, including the
Centers for Medicare and Medicaid Services, to open a
dialogue regarding Federal health policy and its impact on
Puerto Rico. Task Force staff have also contacted officials
at the U.S. Department of Commerce, the U.S. Department of
Labor, and the Federal Housing Finance Agency to discuss a
range of topics, including the inclusion, or lack thereof, of
Puerto Rico in economic measures commonly used to gauge
economic and financial activities in states. The U.S.
Department of Energy, the U.S. Environmental Protection
Agency, the U.S. Small Business Administration, and the U.S.
Department of the Treasury have also been contacted to
discuss critical energy, environmental, health, and economic
issues. Task Force staff expect to contact officials at
additional Federal agencies to obtain pertinent information.
Task Force Members urge all Federal agencies and offices
contacted by Task Force staff to recognize the relatively
brief time period in which the Task Force is required to
[[Page S5837]]
operate, and welcome prompt responses to requests for
information and willingness to meet with Task Force staff on
short notice to provide background and briefing materials.
Moreover, Task Force Members emphasize the need for
bipartisan cooperation as the Task Force works to arrive at
findings and recommendations.
Congressional Support
The Task Force expects to benefit from the support of
available congressional support offices, most notably the
Joint Committee on Taxation (JCT), the Congressional Budget
Office (CBO), and the Library of Congress's Congressional
Research Service (CRS).
Task Force staff have contacted JCT, which will provide a
briefing in the near term to discuss the application of
Federal tax policy in Puerto Rico, as well as individual,
corporate, and other tax proposals put forward in recent
years by stakeholders in Puerto Rico and in Congress. Staff
have reached out to CRS researchers for updates on
previously-issued CRS reports related to Puerto Rico and have
scheduled briefings on a number of germane issues.
Offices and Agencies in Puerto Rico
As noted above, PROMESA specifically requires the Task
Force to consult with the Puerto Rico Legislative Assembly,
the Puerto Rico Department of Economic Development and
Commerce, and the private sector of Puerto Rico.
Task Force staff have begun outreach to leaders of the
Puerto Rico Legislative Assembly, and welcome any input and
recommendations that they wish to provide. Task Force staff
have also contacted the Secretary of the Puerto Rico
Department of Economic Development and Commerce, and welcome
input and recommendations from the Secretary and other
officials at the agency. Similarly, Task Force staff have
contacted the Secretary of the Puerto Rico Department of
Health to obtain input with respect to the Department's
Administrative Order No. 346. Consultation with entities in
the private sector of Puerto Rico has also been ongoing and
will continue throughout this process.
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