Sec. ?.
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That Congress— recognizes that the debt adjustment proceeding for the Puerto Rico Electric Power Authority (referred to in this resolution as the PREPA ) has been and continues to be of great interest to Puerto Ricans and to Congress; recognizes that the continuity of unsustainable electric rates will result in— accelerated out-migration from the island of Puerto Rico; and business closures and unemployment in Puerto Rico; recognizes that the continuity of unsustainable electric rates will further shrink the demand-base and revenues of the PREPA, increasing pressure on the electrical system to cut labor and maintenance costs and inhibiting the reconstruction of the system and the transition to renewable energy; urges the Financial Oversight and Management Board for Puerto Rico to put forth a restructuring plan for the PREPA that— is economically viable for the PREPA, customers of the PREPA, and PREPA retirees; allows for the rehabilitation of the electrical system of Puerto Rico; and does not impose additional increases to electric rates for residents, business owners, and users of the electric grid; and reaffirms the intent of Congress to create durable solution[s] for Puerto Rico’s fiscal and economic crisis through the adoption of permanent, pro-growth fiscal reforms , as stated in title VII of the Puerto Rico Oversight, Management, and Economic Stability Act ( 48 U.S.C. 2241 ).
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