House Republicans' draft legislation designed to save Puerto Rico

House Republicans will release draft legislation Tuesday designed to rescue Puerto Rico from its crippling debt crisis by imposing an oversight board to audit the U.S. territory’s finances and put it on a path toward fiscal responsibility.

The “discussion draft” by Rep. Rob Bishop, Utah Republican and chairman of the Committee on Natural Resources, gives the House a starting point ahead of the March 31 deadline set by Speaker Paul D. Ryan to address Puerto Rico’s $70 billion plight.

By Tom Howell Jr.

House Republicans' draft legislation designed to save Puerto Rico