New Fortress Energy, whose subsidiary oversees energy generation in #PuertoRico, is considering filing for bankruptcy in the United Kingdom to take advantage of a cheaper restructuring process than Chapter 11 in the U.S. subscriber.politicopro.com/article/eene...

1/2 A federal judge today ruled that Pres. Trump unlawfully removed three #PuertoRico Oversight Board members—Arthur Gonzalez, Andrew Biggs & Betty Rosa—since they were dismissed without cause under PROMESA. The members had filed suit Sept. 18. #muniland www.nytimes.com/2025/10/03/u...

1/2 Sen. Wyden of the US Senate Finance Committee today published new findings indicating that Pantera Capital's Dan Morehead, a crypto billionaire based in #PuertoRico, may have improperly avoided more than $100M in federal taxes through a purported residency scam.

1/2 On Day 1 of the federal gov't shutdown, the Energy Dept confirms the reallocation of $365 million to address #PuertoRico’s grid crisis. Originally awarded for rooftop solar & battery installations, the funds will be distributed through PREPA, though exact use remains unclear.

DC Circuit Appeals Court today rejected a challenge by environmental groups to a natural gas pipeline built by New Fortress Energy in #PuertoRico. The pipeline was constructed without explicit approval from FERC, whose full review is still pending. media.cadc.uscourts.gov/opinions/doc...

Worth highlighting: The Heritage Foundation yesterday issued a statement applauding #PuertoRico’s $4B deal with New Fortress Energy to supply PR with natural gas for 7 years. The agreement includes a 3-year extension option & still requires OBoard approval. www.heritage.org/press/herita...

Like the House bill, the Senate reconciliation package would supercharge fossil fuel extraction & use, increase energy costs, and worsen exposure to dangerous climate impacts. Read on for details.

This week, Pres. Trump issued several anti-immigrant Executive Orders including one that aims to withhold funding from states & localities it deems uncooperative with federal immigration enforcement efforts & designates as Sanctuary Jurisdictions www.whitehouse.gov/presidential...

The Trump Administration has made a shocking claim: that it can declare living people dead to cut off their access to government benefits and the broader U.S. financial system. Thread on my colleagues’ new blog 🧵 www.cbpp.org/blog/trump-a...

1/2 Un pacto insólito. La mayoría republicana en la Cámara federal ha aprobado una resolución presupuestaria que pretende dar trillones en recortes contributivos a la gente más rica, a cambio de aplicar recortes masivos en Medicaid, SNAP y financiación de préstamos estudiantiles.

1/2 #PuertoRico's economic growth is slowing & by some measures it's already contracting. Planning Board has lowered prior GDP growth estimates for FY25 & FY26 to 1.1% & 0.5%, respectively. Moody's & Oversight Board have less optimistic outlook, forecasting contractions for FY25.

A welcome headline, as there is so much to oppose: the Senate budget resolution is deeply flawed as it opens the door to making it harder for people to afford groceries & access healthcare – at the worst possible time as the risk of recession & price hikes rise. thehill.com/homenews/hou...

At CBPP we've been tracking the impacts of recent administrative actions that are hurting communities most impacted by climate change: www.cbpp.org/research/fed... Who will be hurt most? Read more below:

1/ While new information surfaces that New Fortress is looking to further expand its LNG operation in #PuertoRico in the southern municipality of Ponce, Moody's is downgrading the company's legacy notes & senior loans deeper into junk rating territory.

The Senate has passed the deeply flawed House R funding bill. It’s far from “clean”— but the single most important fact now is this: The CR has set in law full-year funding levels that make clear the Administration's impoundments & mass firings remain illegal. Period.

The House may vote as soon as tomorrow on a federal government funding bill that contains a hidden, devastating surprise for the District of Columbia: a requirement that DC drastically slash its budget halfway through the fiscal yr, causing immediate cuts to police, schools, transportation & more.

CBPP's Samantha Jacoby on the House Budget Resolution amendment that opens the door for even deeper budget cuts: x.com/jacsamoby/st...

#PuertoRico non-profit Espacios Abiertos today issued a follow-up report denouncing the excessive costs of OBoard consultants: $2BN & counting. In 2016, the Congressional Budget Office had estimated that Board admin costs wouldn't exceed $370M over 10 yrs. espaciosabiertos.org/the-cost-of-...

👀 Something for people who care about Social Security to watch for: the Trump Admin is looking to drastically reduce federal building space. Social Security Administration (SSA) offices across the nation may be affected, harming retirees, people w/ disabilities & survivors. Details ⬇️

Yesterday S&P further downgraded New Fortress Energy—from B+ to B— on weak liquidity & high leverage. S&P has flagged high uncertainty around a $500M-$659M FEMA payment based on renegotiated power contracts w/ the #PuertoRico Electric Power Authority. disclosure.spglobal.com/ratings/en/r...

Happy #JobsDay! My first post-admin and the first report of the year. Let’s get it! (1/8)

With some Republicans considering cuts & harmful policy changes to #SNAP this year, let’s take a closer look at SNAP’s links to better health & lower health care costs.

Some Republican lawmakers are considering harmful cuts & policy changes to #SNAP this year. But these proposals wouldn’t only harm low-income people who need SNAP to afford groceries. They could also weaken SNAP’s effectiveness in supporting jobs & the broader economy. 🧵

The head of #PuertoRico's Electric Power Auth says PR needs yet another major fossil fuel power plant —preferably natural gas— in addition to the 478MW natural gas plant (aka Energiza) that is under development & expected to come online in 2028. www.elnuevodia.com/noticias/loc...

OPM’s “deferred resignation” email to federal employees this week triggered more chaos & uncertainty. If it hollows out the civil service, it will harm ppl’s ability to access benefits & services-even those the Trump Admin purports to protect. Case in point: the Social Security Administration. 1/

On Tuesday, New Fortress posted a presentation tied to a potential refinancing. #PuertoRico operation among highlights, incl. recently signed 20yr gas contract. Importantly, forecasts assume NFE further increases gas volumes thru sales agreement w/ PREPA ir.newfortressenergy.com/static-files...

So much natural gas is expected to flow to #PuertoRico that Crowley has purchased a 130,400-cbm LNG tanker to transport the fossil fuel to the archipelago. It is, in fact, the first LNG ship to be reflagged to the US through a Jones Act loophole. www.tradewindsnews.com/gas/new-crow...

Another example of this administration's priorities: subsidizing wealthy families who already send their children to private school at the expense of the 90% of students who attend public schools. www.usatoday.com/story/news/e...

New reports that Republican lawmakers are considering further expanding SNAP’s harsh and ineffective work requirement to apply to parents of children 7 and older. This policy won't support work—but it will hurt kids & make it harder for low-income families to afford groceries.

Today, HHS Secretary Nominee Robert F Kennedy Jr. is set to appear in the Senate. One area to watch: What is his position on the future of #Medicaid and marketplaces, which together cover nearly 100 million people, helped shrink the uninsured rate, and improved access to care?

Around 40 million people and families rely on #SNAP. Republican proposals to cut SNAP could take food away from many, increasing hunger for millions across the country. www.cbpp.org/research/fed...

🧵 Families in #PuertoRico & #AmericanSamoa would see a substantial drop in food assistance from cuts to #SNAP some Republicans are considering this year. www.cbpp.org/research/foo...

Worth noting, El Nuevo Día's editorial last week supporting #PuertoRico's transition to more natural gas has one colossal error: it states natural gas is considered renewable energy in the US. This is simply not true, regardless of natural gas' merits & demerits. www.elnuevodia.com/english/edit...

In case there were any doubts, #PuertoRico's energy compass points towards natural gas. New Fortress yesterday announced the execution of a 20-year gas supply agreement w/ Energiza to provide nat gas to a 478 MW power plant being developed in San Juan. ir.newfortressenergy.com/news-release...

Great news that nearly 24m people have health coverage through the marketplaces. As Sen. Murkowski recently told AK press, "...you’ve got a lot of folks that have seen some real relief." But this would be at risk if Congress lets tax credit improvements expire. www.nytimes.com/2025/01/08/u...

Emboldened by yet another win against #PuertoRico's OBoard, PREPA bondholders say they intend to "vigorously litigate" absent a global settlement. On Dec 31, the 1st Circuit Appeals Court rejected a 3rd OBoard appeal on PREPA bondholder liens. www.businesswire.com/news/home/20... #muniland

Most of #PuertoRico will wave 2024 goodbye in darkness. Another massive blackout, another exasperating reason to call for systemic change. That this has become the norm is in itself a horrid aberration. PR has endured enough. PR deserves so much damn better.

1/3 Worth reiterating that New Fortress Energy, whose subsidiary Genera PR is in charge of electrical generation in #PuertoRico, is inching ever so closer to bankruptcy, particularly if NFE fails to refinance well over $2BN in debt coming due in the next five years. #muniland

🧵 1/7 #PuertoRico's Nutrition Assistance Program #NAP would be cut by more than $700M over the 2027-2033 period under the Farm Bill proposal that House Agriculture Committee Chair Glenn “GT” Thompson will reportedly unveil within the next few weeks. https://tinyurl.com/2cb8dzxe