Sanders rejects deal on Puerto Rico, offers alternative

Supporters wait for U.S. Democratic presidential candidate Bernie Sanders to speak in East Los AngelesDemocratic presidential candidate and U.S. Senator Bernie Sanders on Monday rejected a bipartisan deal reached in the House of Representatives on legislation to address Puerto Rico’s debt crisis, calling it a concession to Wall Street. Breaking with the Obama administration, Sanders called on Senate colleagues to instead back an alternative he has proposed to allow the U.S. territory the same access to restructure its debt in bankruptcy court that is afforded to municipalities. Lawmakers in the U.S. House of Representatives last week unveiled a bill, hammered out in talks between lawmakers from both parties, that included a framework for restructuring Puerto Rico’s $70 billion in debt and putting the island’s financial operations under the control of a federal oversight board.

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