Johnson praises bill for preventing taxpayer bailout of Puerto Rico

WASHINGTON — Sen. Ron Johnson (R-Wis.) voted Wednesday for legislation to prevent taxpayer money from being used to bail out the government of Puerto Rico.

The bill imposes fiscal reforms necessary to the territory restructuring its overwhelming debt. The process prevents federal taxpayer money being used to pay the territory’s obligations.

Sen. Johnson, who has sponsored budget legislation to prevent the federal government from bailing out improvident states or local governments, said the measure’s protection for American taxpayers was its strength:

“It's a good bill," Johnson said. “It's not a bailout by taxpayers. The bill provides strong financial controls, which is what is necessary for Puerto Rico."

“This legislation provides the best chance  to put Puerto Rico, a territory of the United States, on a sustainable path - and it accomplishes that without using U.S. taxpayers’ money.”