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Pedro Pierluisi

US Treasury Secretary demands action on Puerto Rico's crisis

U.S. Treasury Secretary Jacob Lew urged Congress on Friday to pass legislation by March to help ease Puerto Rico's economic crisis before it's too late.

Lew made the request in a letter to U.S. House Speaker Paul Ryan, a Wisconsin Republican, as he announced an upcoming trip to the island to meet with government officials and business leaders to talk about the financial situation.

"Although there are many ways this crisis could escalate further, it is clear that Puerto Rico is already in the midst of an economic collapse," Lew wrote. "It is time for Congress to act to provide order to a chaotic and worsening situation."

Puerto Rico is struggling...