WASHINGTON (Reuters) - U.S. President Donald Trump on Tuesday accused Puerto Rico’s politicians of using “massive and ridiculously high amounts of hurricane/disaster funding” to pay off other debts, and said he would not allow a bailout with relief money.
“The U.S. will NOT bail out long outstanding & unpaid obligations with hurricane relief money!,” Trump said on Twitter.
A federally appointed oversight board on Tuesday approved a fiscal reform plan for Puerto Rico over opposition from the island’s elected government. The plan calls for a range of fiscal and structural reforms, reduces government spending and takes into account an additional $20 billion in federal disaster relief funds.
(Adds dropped words “an additional” in last paragraph.)
Reporting by Makini Brice; Editing by Tim Ahmann