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Puerto Rico rescue bill clears Congress, Obama to sign

Debate over Puerto Rico's sovereignty has recently been overshadowed by a debt crisis that has engulfed the US territory, underscoring its complicated relationship with the mainlandThe US Senate passed a bipartisan measure that would allow Puerto Rico to restructure its $70 billion debt just two days before the island was to careen into massive default. The bill, which easily passed by a vote of 68 to 30, has now cleared both chambers of Congress and will go to the White House for President Barack Obama’s signature. Increasingly unable to service its debt, Puerto Rico is blocked by US law from getting formal bankruptcy protection, which would allow a court to force creditors to write off large amounts of its debt.

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