OPINION: Puerto Rico’s fiscal crisis exposes limits of current status

It may shock many in the United States to learn that our beacon of democracy holds colonial possessions. But that is exactly what the place of my birth, Puerto Rico, is. Although it is home to 3.5 million American citizens, it has been treated unequally and unfairly for the past 119 years — and it is long past time to put an end to its secondary status. This month, Puerto Rico is holding a plebiscite on its status, and I hope Congress will listen to the results.

Currently, Puerto Rico is a territory of the United States under a commonwealth status. Although its residents are U.S. citizens, they do not have the political rights inherent to individuals residing in the 50 states. They cannot vote for president and they do not have full representation in Congress. And the result is easily visible in our public policies toward the island. Far too often, the island is treated on an unequal footing with the 50 states. For instance, the island receives less money for Medicaid than states with similar populations, and it is excluded from the Supplemental Security Income program. As a senior member of the Appropriations Committee, I have seen how it loses out on billions of federal dollars each year as a result.

{mosads}For too long, many have believed the fiction that Puerto Rico has the best of both worlds under its current commonwealth status — local autonomy with the full benefits of American citizenship. The result of this relationship and treatment is on full display today as the island faces the worst economic crisis in its history — both in Puerto Rico’s accumulation of billions of dollars of debt over the years as well as in its inability to address the economic crisis under the current status. The limits to the colonial relationship were also on display during last summer’s debate around the crafting and passage of the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA). Puerto Rico ended up having to beg Congress for assistance to address the crisis and have access to some sort of bankruptcy mechanism through a process in which it hardly had any voice or input. To be clear, I supported and voted in favor of this legislation — as the best and only viable option for Puerto Rico to be able to restructure its debts in an orderly manner and start tackling the fiscal crisis — but I recognize that it exposes the limits of Puerto Rico’s current status.

Given its critical role in creating the crisis, as well as the restrictions it poses to solving it, it is clear that the commonwealth status is no longer viable. The debate around Puerto Rico’s economic crisis has created an opportunity to launch a larger, more vigorous discussion about Puerto Rico’s future and effort to solve its status. Under either statehood or independence Puerto Rico would have had access to the tools necessary to address a fiscal crisis of this magnitude. It is time for those who want to solve the status of Puerto Rico to once and for all unite in favor of change. 

Puerto Rico will hold a referendum on its future status on June 11. Whatever the choice, I hope that Congress will take it as an opportunity to reopen the dialogue on Puerto Rico’s future status. After 119 years, our government owes the island at least that much.

Serrano represents New York’s 15th District and is a member of the Appropriations Committee.