Law curbing corporate greed in Puerto Rico welcomed | Letters - Orlando Sentinel
Puerto Rico consistently faces challenges of inequity that often leave it at a disadvantage, and the ongoing bankruptcy process that has dominated the attention of the island has been no different — until now. With critical conflict of interest disclosure language missing from PROMESA, the law passed by Congress years ago to allow Puerto Rico to restructure its debt, it has been a challenge to get Congress to pass the corrective legislation needed to end the unscrupulous acts of companies being paid to advise the Puerto Rican government. For example, since 2018, McKinsey & Company has reaped tens of millions of dollars of taxpayer-funded fees to advise the Fiscal Oversight Management Board of Puerto Rico.
The recently passed Puerto Rico Recovery Accuracy in Disclosures Act of 2021 or “PRRADA”, was signed into law by President Biden and will now serve to keep companies like McKinsey honest as they conduct the work of the people. I am hopeful this corrective law will finally put Puerto Rico on an equal playing field when it comes to this bankruptcy and I am thankful for the bipartisan support shown by Congress, especially Sen. Marco Rubio and Rep. Darren Soto, for tirelessly championing this issue through to the end. This is a great example of how leaders from both sides of the aisle can come together and accomplish great things for the good of the people they serve.
Do not be fooled into thinking that paying higher gas prices is doing your part for the Ukrainian war effort (Letter to the editor: “Higher gas prices are a small sacrifice,” March 9). The cost of gas was already on the rise because of the Biden administration’s failed energy policies. With the outbreak of war, Joe Biden saw the perfect opportunity to shift blame to Vladimir Putin. Putin exacerbated the situation, but I believe Biden is ultimately responsible for soaring gas prices.
1. The annual Gay Days event at Walt Disney World brings millions of dollars into the Florida economy. That event and other events may be at stake.
source: https://www.orlandosentinel.com/opinion/letters/os-op-letters-puerto-rico-prrada-welcomed-20220309-4m4n4uex2vaclazcgyfipqygsi-story.html
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