House Speaker Paul Ryan on Friday said Congress will not bail out Puerto Rico from its financial crisis.
“Let me be clear: There will be no taxpayer bailout of Puerto Rico,” Ryan wrote.
The Wisconsin Republican said the House has instead focused its attention on legislation that assists the Caribbean island territory without forcing U.S. taxpayers to foot the bill.
Ryan’s defense comes weeks into a fight over how to save the U.S. territory. He insists GOP leadership and appropriate partners are nearing the completion of a plan to help Puerto Rico.
“Right now, we are working with the Natural Resources Committee, the administration and our Democratic counterparts to iron out the final constitutional and legal questions surrounding the legislation,” Ryan said. “The House legislation will be introduced in the coming days.”
