On Wednesday, legislation to help Puerto Rico restructure its more than $70 billion of debt finally passed through the Senate.
President Barack Obama is expected to sign the bill by the end of the week, which is when the island was set to default on $2 billion worth of payments to bondholders.
The bill passed with bipartisan support, but not everybody is happy. A major issue is the establishment of a federal board to oversee Puerto Rico’s finances.
Some, like Puerto Rican Sen. Ramon Luis Nieves, say the board won’t bring any money to the island.