White House requests $5B to ease Puerto Rico fiscal crisis
WASHINGTON — The White House on Tuesday asked Congress for $5 billion to ease a fiscal crisis striking the government of Puerto Rico in the wake of Hurricane Maria.
Puerto Rico’s central government and various municipalities and other local governments are suffering unsustainable cash shortfalls as Maria has choked off revenues and strained resources. The administration’s request, so far delivered informally, would provide $4.9 billion for Puerto Rico and its local jurisdictions.
The White House also requested $150 million to help Puerto Rico with the 10 per cent match required for Federal Emergency Management Agency disaster relief.
A senior administration official confirmed the request, requiring anonymity because it is not yet official. The official stressed that jurisdictions other than Puerto Rico are eligible, but acknowledged the cash-strapped territory is sure to receive the bulk of the money.