The Politics of PROMESA.

This article provides an overview of PROMESA in the context of an erratic historical pattern of U.S. policy implementation toward Puerto Rico and offer an analysis of the congressional political and legislative dynamics that led to the enactment of the law. PROMESA's core components were and are contentious to various constituencies affected by the legislation, especially to those directly affected by severe austerity measures and bondholders who have lost substantial value in their investments. PROMESA received divided support from the Puerto Rican people and its elected officials when enacted and represents a new reality and challenge to the Puerto Rican people both on the island and stateside. [ABSTRACT FROM AUTHOR]