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Puerto Rico - Recovery, Economic and Political Issues (Hardcover)
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Puerto Rico - Recovery, Economic and Political Issues (Hardcover)
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Puerto Rico lies approximately 1,000 miles southeast of Miami and
1,500 miles from Washington, DC. Despite being far outside the
continental United States, the island has played a significant role
in American politics and policy since the United States acquired
Puerto Rico from Spain in 1898. On 20 September 2017, Hurricane
Maria made landfall in Puerto Rico as a Category 4 storm with
sustained wind speeds of over 155 miles per hour. At that time, the
Commonwealth of Puerto Rico was already in recovery mode following
the glancing blow struck by Hurricane Irma on 6 September 2017,
which left 70% of electricity customers without power. Chapter 1
deals with the challenges to recovery in Puerto Rico and the role
of the Financial Oversight and Management Board. Even before the
2017 hurricane season, Puerto Ricos electric power infrastructure
was known to be in poor condition, due largely to underinvestment
and the perceived poor maintenance practices of the Puerto Rico
Electric Power Authority (PREPA).Chapter 2 focuses on the recovery
of Puerto Rico from the hurricanes, and the restoration of power.
The two hurricanes that hit may have been historic, but they
exposed a state of affairs in Puerto Rico that existed well before
any of the hurricanes made landfall. Decades of mismanagement led
to a paralyzing debt burden. Chapter 3 describes the factors that
contributed to Puerto Ricos financial condition and levels of debt
and federal actions that could address these factors. Chapter 4
examines the economic conditions in Puerto Rico as of the end of
2016, and (2) assesses the potential effects of applying the 2016
Overtime Rule to Puerto Rico. Chapter 5 provides policy and
historical background about Puerto Ricos political status --
referring to the relationship between the federal government and a
territorial one. Congress has not altered the islands status since
1952, when it approved a territorial constitution.
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