Rep. Ritchie Torres Releases Statement on Trump’s Partisan Takeover of Puerto Rico’s Fiscal Board

Today, Representative Ritchie Torres (NY-15) released the following statement in response to President Donald Trump’s decision to fire all Democratic appointees to Puerto Rico’s Fiscal Oversight and Management Board (FOMB):

“Donald Trump has fired all of the Democratic appointees to the Fiscal Oversight and Management Board and is expected to replace them with partisan loyalists—political hacks willing to sell out Puerto Rico to predatory bondholders.

If those bondholders secure their sweetheart deal, Puerto Rico will be locked into paying the highest electricity rates in the country (second only to Hawaii), all while relying on a failing, unreliable electric grid.

Paying the highest electricity rates for the worst electric grid is not ‘efficiency.’ It’s exploitation.”