House Passes Rescue Package to Ease Puerto Rico’s Debt

(WASHINGTON) — The House on Thursday overwhelmingly passed a rescue package for debt-stricken Puerto Rico, clearing a major hurdle in the ongoing effort to bring relief to the U.S. territory of 3.5 million Americans.

The strong bipartisan vote was 297-127 for the legislation that would create a financial control board and allow restructuring of some of Puerto Rico's $70 billion debt. The measure now heads to the Senate, just three weeks before the territory must make a $2 billion payment.