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Puerto Rico's gov says no layoffs or pension cuts in major rebuke of federal control board demands
By The Associated Press, The Associated Press
Published April 02, 2018
People watch television powered with the help of a generator, as Puerto Rico Governor Ricardo Rossello addresses the nation in a televised speech, in Toa Baja, Puerto Rico February 5, 2018. (REUTERS/Alvin Baez)
Puerto Rico's governor is defying the federal control board overseeing the island's troubled finances.
Ricardo Rossello says he will submit a fiscal plan to the board on Thursday that will not contain any layoffs, reductions in pensions or a labor reform.
The announcement late Sunday defies the board's demands that the U.S. territory implement a labor reform and a 10 percent cut to a pension system facing nearly $50 billion in liabilities.
A board spokesman did not immediately respond to a request for comment.
Public Affairs Secretary Ramón Rosario told NotiUno radio station on Monday that the board cannot impose public policy in Puerto Rico and asked members to reach a consensus with the island's government.
https://www.foxnews.com/politics/puerto-ricos-gov-says-no-layoffs-or-pension-cuts-in-major-rebuke-of-federal-control-board-demands