I vouch for the fact that Chairman Bishop has been working closely with me, and I look forward to continuing to work closely with Chairman Bishop so we come up with adequate bipartisan legislation to deal with this crisis.

status is vitally important when looking at the situation, the fiscal and economic crisis that Puerto Rico is facing.

At this juncture, I am convinced that Puerto Rico cannot either cut its way out of this crisis or tax its way out of this crisis. The only way out for Puerto Rico is to grow out of this crisis.

Puerto Rico and its creditors are on the same ship. We are going to sail safely to shore together, or we are going to sink together.

The bill cannot fix every disparity Puerto Rico faces, because only statehood can do that.

Puerto Rico is facing a very serious, unprecedented liquidity crisis.

We would urge that this authority be appointed by the President, confirmed by the Senate, and it must be acceptable to Puerto Rico.

We are either going to pass a good bill or no bill at all.

Puerto Rico should have been treated equally a long time ago.

The opportunity to recover from this crisis, with strong leadership and assistance from the Federal Government, is the end solution we here on this committee are aiming to provide.

Equality is the best policy.