Congressman Steve Womack (AR-3) today released the following statement after supporting House-passage of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA; H.R. 4900):
“The passage of this important, bipartisan legislation will help put the territory of Puerto Rico and her people back on firmer footing after years of poor governance that led them down this path of economic decline. Through the establishment of a responsible and experienced fiscal oversight and management board, coupled with the repeal of harmful Obama Administration policies such as the Department of Labor Overtime Rule and an expansion of the federal minimum wage, Puerto Rico will be able to take the actions necessary to turn this dire situation around. All of this is accomplished alongside minimum debt restructuring with no cost to the taxpayers, and I am proud to support it.”
Congressman Steve Womack has represented Arkansas’s Third Congressional District since 2011 and serves on the House Appropriations Defense, Financial Services and General Government, and Labor-Health and Human Services subcommittees and the House Committee on the Budget.