Javier Balmaceda

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...

2/2 Back in August, President Trump removed six of the seven members of the #PuertoRico Oversight Board, leaving the body with just one member. The judge’s preliminary injunction effectively reinstates the three plaintiffs.

Judge Says Trump Wrongly Removed Puerto Rico Oversight Board Members

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...

Wyden Unveils Investigation of Crypto Billionaire’s Tax Scheme Involving Puerto Rico Residency Scam | The United States Senate Committee on Finance Wyden Unveils Investigation of Crypto Billionaire’s Tax Scheme Involving Puerto Rico Residency Scam

2/2 2/2 Sen. Wyden’s findings are part of a broader probe into wealthy Americans using #PuertoRico tax breaks like Act 60. Back in January, Sen. Wyden had sought details on $850M in profits Morehead made after relocating to PR in 2020.

Full release: www.finance.senate.gov/ranking-memb...

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.

2/2 The Energy Dept had announced its intent to reallocate the funds back in May.

May press release: www.energy.gov/articles/ene...

Today's press release:
www.energy.gov/articles/ene...

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...

Heritage Foundation Applauds Deal Between Puerto Rico and New Fortress Energy WASHINGTON—The Heritage Foundation congratulates Puerto Rico and New Fortress Energy for reaching an agreement to provide up to 75 trillion British thermal units a year (TBtu) of natural gas for seven...

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.

Protecting American Communities from Criminal Aliens By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered: Section 1. Purpose and

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...

Trump and DOGE Claim Power to Falsely List Living Persons as Dead in Social Security Records | Center on Budget and Policy Priorities 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. According to reporting....

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...

Republican Agenda’s “Triple Threat” to Low- and Moderate-Income Family Well-Being | Center on Budget and Policy Priorities This three-part agenda — legislation, executive action, and tariffs — will reduce the living standards and raise costs for millions of families with modest incomes while helping pave the way for tax c...

2/2 Por si fuera poco, los aranceles que rigen en este momento, que están en su punto más elevado en 100 años, impactan con mayor severidad a las familias de clase media y de ingresos bajos.

www.cbpp.org/press/statem...

www.cbpp.org/research/fed...

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.

2/2 Moody's & OBoard predict that #PuertoRico's economy will be stagnant over the next 10yrs & sustained largely by fed funds, making the Trump Admin's cuts particularly troubling for PR.

1 www.elnuevodia.com/negocios/eco...

2 www.elnuevodia.com/english/busi...

3 drive.google.com/file/d/1XBIt...

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...

EPA's Gutting of Pollution and Climate Regulations Will Hurt Communities that Need Them Most | Center on Budget and Policy Priorities March 12, 2025: EPA Administrator Zeldin announced that the agency will be reconsidering 31 rules and regulations, including those related to:

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:

New Fortress tramita trasbordo de GNL en bahía y muelle de Ponce La multinacional New Fortress Energy está decidida a convertir a Ponce en destino industrial para la importación de gas natural licuado (GNL). Para conseguirlo ya ha asegurado el alquiler de terrenos ...

2/ A recent investigation shows that NFE is looking to store & distribute LNG from a pier in Ponce that is dangerously close (<1km) to communities, hotels and a university. www.periodicolaperla.com/actualidad/n...

All the while, NFE's credit ratings continue to fall. www.moodys.com/research/Moo...

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...

a woman is sitting at a desk with a laptop and a monitor behind her . ALT: a woman is sitting at a desk with a laptop and a monitor behind her .

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. 🧵

Jefa de la AEE opina que es necesaria otra planta de generación fósil para estabilizar el sistema Mary Carmen Zapata indicó que estudios previos resaltan la conveniencia de una instalación nueva en el sur de Puerto Rico

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...