U.S. Treasury Secretary Heading to Puerto Rico to Address Debt Crisis

from Fox News

In an effort to put pressure on Congress, U.S. Treasury Secretary Jacob Lew is heading to Puerto Rico on Monday to see firsthand the effect the island’s $70 billion debt crisis is having on the millions of Americans who live there.

Lew’s one-day trip is part of the Obama administration’s campaign to pressure Congress to act. House Republicans are expected to announce new legislation this week creating a control board to help manage the U.S. territory’s debt and oversee some debt restructuring.

It will be the third draft of the House bill, which has come under fire from some conservatives who worry it would set a precedent for financially ailing states.

Continue Reading at Latino.FoxNews.com…