Sanders Slams Proposed Puerto Rico ‘Neocolonial Control Board’

Democratic presidential contender Bernie Sanders slammed Republicans in Congress for creating a "neocolonial control board" for the bancrupt US territory of Puerto Rico that could slash pensions for residents, fire teachers and close hospitals.

WASHINGTON (Sputnik) — A control board to sort out the debt crisis in the US territory of Puerto Rico will be stacked with Republicans and will saddle the bankrupt island with an additional $370 million in debt, Democratic presidential contender Bernie Sanders charged in a statement issued on Friday.

"It is bad enough for Republicans in Congress to take away the democratic rights of US citizens living in Puerto Rico by setting up a neocolonial control board empowered with the authority to slash pensions, fire teachers and close hospitals," Sanders said.

Sanders was commenting on legislation approved by the US House of Representatives in an attempt to avoid a taxpayer bailout of Puerto Rico, which has debts of more than $70 billion that it is unable to repay. The cost estimate came from the Congressional Budget Office.

"To ask Puerto Rican taxpayers to pay $370 million to create an unelected control board stacked with right-wing Republicans is beyond insulting," Sanders charged.

Sanders said he would introduce legislation in the US Senate to resolve Puerto Rico’s debt crisis by creating jobs.

The island is already in default on its debt, and its bonds have been downgraded to junk status, with little likelihood of repayment.