House Republican leader sees Puerto Rico bill before JulyWASHINGTON (Reuters) - House of Representatives Republican leader Kevin McCarthy said on Tuesday he is “hopeful” lawmakers can move legislation on Puerto Rico out of the House before the U.S. territory must make a $1.55 billion debt payment in July. But lawmakers will not be able to address the island’s fiscal crisis before May 1, when Puerto Rico is due to make a smaller $422 million payment that Governor Alejandro Garcia Padilla says it cannot meet, said the California Republican, who is second only to Speaker Paul Ryan in the legislative chamber. Puerto Rico faces $70 billion in total debt, a 45 percent poverty rate and a shrinking population, all of which threaten to cause its economy to collapse. “The May date, I don’t see how we can get it done,” McCarthy told reporters.  Congressional efforts to craft legislation to address the crisis have hit a series of roadblocks that McCarthy said he believes lawmakers could surmount before July 1, when Puerto Rico is scheduled to make the $1.55 billion debt payment.          “I’m hopeful that we’d have it out of the House by then,” the Republican leader said.  McCarthy said the House has not produced legislation until now because lawmakers are waiting for the U.S. Treasury Department to complete negotiations with island authorities. Democrats reject the claim, however, saying Republicans are unable to move forward because of internal divisions encouraged by outside groups that have sought to characterize the legislative effort as a taxpayer “bailout” despite repeated denials from the House Republican leadership. “It’s our No. 1 principle that we’re going to protect the taxpayers and will not do a bailout,” McCarthy said on Tuesday.   “As soon as we can get Treasury to get done with what they’re working on, I think that will put us on a faster path,” he added. politicsNews
house republican leader sees puerto rico bill julywashington reuters house representatives republican leader kevin mccarthy said tuesday hopeful lawmakers move legislation puerto rico house territory must make billion debt payment july but lawmakers able address island fiscal crisis may puerto rico due make smaller million payment governor alejandro garcia vanilla says meet said california republican second speaker paul ryan legislative chamber puerto rico faces billion total debt percent poverty rate shrinking population threaten cause economy collapse the may date i see get done mccarthy told reporters congressional efforts craft legislation address crisis hit series roadblocks mccarthy said believes lawmakers could surround july puerto rico scheduled make billion debt payment i hopeful house republican leader said mccarthy said house produced legislation lawmakers waiting treasury department complete negotiations island authorities democrats reject claim however saying republicans unable move forward internal divisions encouraged outside groups sought characterize legislative effort taxpayer bailout despite repeated denials house republican leadership it no principle going protect taxpayers bailout mccarthy said tuesday as soon get treasury get done working i think put us faster path added politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: House Republican leader sees Puerto Rico bill before JulyWASHINGTON (Reuters) - House of Representatives Republican leader Kevin McCarthy said on Tuesday he is “hopeful” lawmakers can move legislation on Puerto Rico out of the House before the U.S. territory must make a $1.55 billion debt payment in July. But lawmakers will not be able to address the island’s fiscal crisis before May 1, when Puerto Rico is due to make a smaller $422 million payment that Governor Alejandro Garcia Padilla says it cannot meet, said the California Republican, who is second only to Speaker Paul Ryan in the legislative chamber. Puerto Rico faces $70 billion in total debt, a 45 percent poverty rate and a shrinking population, all of which threaten to cause its economy to collapse. “The May date, I don’t see how we can get it done,” McCarthy told reporters.  Congressional efforts to craft legislation to address the crisis have hit a series of roadblocks that McCarthy said he believes lawmakers could surmount before July 1, when Puerto Rico is scheduled to make the $1.55 billion debt payment.          “I’m hopeful that we’d have it out of the House by then,” the Republican leader said.  McCarthy said the House has not produced legislation until now because lawmakers are waiting for the U.S. Treasury Department to complete negotiations with island authorities. Democrats reject the claim, however, saying Republicans are unable to move forward because of internal divisions encouraged by outside groups that have sought to characterize the legislative effort as a taxpayer “bailout” despite repeated denials from the House Republican leadership. “It’s our No. 1 principle that we’re going to protect the taxpayers and will not do a bailout,” McCarthy said on Tuesday.   “As soon as we can get Treasury to get done with what they’re working on, I think that will put us on a faster path,” he added. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: house republican leader sees puerto rico bill julywashington reuters house representatives republican leader kevin mccarthy said tuesday hopeful lawmakers move legislation puerto rico house territory must make billion debt payment july but lawmakers able address island fiscal crisis may puerto rico due make smaller million payment governor alejandro garcia vanilla says meet said california republican second speaker paul ryan legislative chamber puerto rico faces billion total debt percent poverty rate shrinking population threaten cause economy collapse the may date i see get done mccarthy told reporters congressional efforts craft legislation address crisis hit series roadblocks mccarthy said believes lawmakers could surround july puerto rico scheduled make billion debt payment i hopeful house republican leader said mccarthy said house produced legislation lawmakers waiting treasury department complete negotiations island authorities democrats reject claim however saying republicans unable move forward internal divisions encouraged outside groups sought characterize legislative effort taxpayer bailout despite repeated denials house republican leadership it no principle going protect taxpayers bailout mccarthy said tuesday as soon get treasury get done working i think put us faster path added politicsnews