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The Foraker Act, which labeled Puerto Rico as unorganized territory of the U.S gave Puerto Rico limited self-government. Also the act also mentions that they are under the protection of the U.S but don't have official citizenship. -
The Puerto Ricans were granted citizenship gave Puerto Rico a Bill of rights. It separated the government into 3 branches. It Also recognized Puerto Rico as an "organized but unincorporated" territory of the U.S. But Puerto Ricans weren't able to vote for their own governor the U.S was able to veto any laws made by the legislature. -
This was a program made in order to transform Puerto Rico. This program gave them freedom from island taxes, cash grants, assistance with site location. This program wanted to help give people more jobs, modernize the industry give people better health education. -
This act allows puertoricans to choose their own governor for the first time. Up untill that point the U.S chose the governor of Puerto Rico. The first elected governor was Luis Munoz Marin who was was Governor between the years 1949 to 1964.
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4 puertorican nationalists attacked the house of representatives. They fired 20 bullets injured 5 U.S representives. They wanted Puerto Rico to be independant from the U.S. They also felt that the Governer, Luis Munoz Marin, as a traitor. The 4 nationalists were arested the puertorican government -
Section 936 created an economic boom throughout Puerto Rico. Section 936 made it so that U.S subsidies wouldn't pay federal taxes on profits from Puerto Rico. Due to this more factories started popping up. This was also able to create more well paid jobs for Puertoricans.
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In 1996 Bill Clinton eliminated Section 936. But until then there was nothing put in place to prevent it's losses. So, because of this, in 2006, Puerto Rico ended up in a massive amount of debt. The government was able to borrow money to repay it's debts. But later in 2014 they ended up bein in debt again owing 60 billion dollars.
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The Puerto Rico Oversight Management And Economic Stability Act or PROMESA was made to restore Puerto Rico's debt after the major debt crisis. Congress established the FCB ( Fiscal Control Board) to oversee the restucturing of debt. They had control over there finances could veto any decision by the government. -
Hurricane Maria at landed in Puerto Rico 6:15 A.M. It was catagory 4 hurrican with winds at 155mph. It killed over 3,000 people left the entire country in shambles. Electricity was cut off for the entire country clean water food was limited. The cost for all the destruction was 91 billion dollars, which only piled on their debt. -
Puerto Rico was finally able to leave bankruptcy after a long time. This was partialy thanks to a website called puertorico.com founded by Jordan Fried. This was made to atract tourist to Puerto Rico as a way for Puerto Rico to make more money. Puerto Rico also restructured the public debt paid bondholders which helped as well.