Speaker: Puerto Rico relief bill ready 'in the coming days'

On Friday evening, House Speaker Paul RyanPaul Davis RyanRevising the pardon power — let the Speaker and Congress have voices Paul Ryan will attend Biden's inauguration COVID-19 relief bill: A promising first act for immigration reform MORE said legislation to restructure Puerto Rico’s ailing finances will be introduced in the coming days.

“Right now, we are working with the Natural Resources committee, the administration, and our Democratic counterparts to iron out the final constitutional and legal questions surrounding the legislation,” Ryan said in the statement. “Let me be clear: There will be no taxpayer bailout of Puerto Rico.”

The measure seemingly hit another snag this week when House Natural Resources Committee Chairman Rob BishopRobert (Rob) William BishopHouse Republicans who didn't sign onto the Texas lawsuit OVERNIGHT ENERGY: Westerman tapped as top Republican on House Natural Resources Committee | McMorris Rodgers wins race for top GOP spot on Energy and Commerce | EPA joins conservative social network Parler Bruce Westerman tapped as top Republican on House Natural Resources Committee MORE (R-Utah) delayed the introduction of an expected reworked measure to deal with some technical issues.

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Earlier Friday, Treasury Secretary Jack LewJacob (Jack) Joseph LewApple just saved billion in tax — but can the tax system be saved? Lobbying World Russian sanctions will boomerang MORE said the House's delay shouldn’t be misinterpreted as a lack of progress.

Lew said that while time is of the essence, with a looming $2 billion debt payment due on July 1, Treasury and Congress are making progress toward a long-term solution to the island’s fiscal woes.

“The substance is more important than the schedule, as long as it gets done for Puerto Rico,” Lew told reporters at a Christian Science Monitor breakfast in Washington.

“So I wouldn’t confuse delaying a day with a lack of progress; sometimes a delay can be a sign of progress if you’re getting close to something,” he added.