Javier Balmaceda
@jbalmaceda787.bsky.social
Puerto Rico policy analyst at @centeronbudget.bsky.social. Former finance reporter at Debtwire Municipals. Alum of UChicago UChile & Williams College. Made in 🇵🇷 Views my own
The House Agriculture Committee's farm bill proposal fails to address the unfolding hunger crisis as the Republican megabill (H.R. 1)’s unprecedented #SNAP cuts go into effect. But the bill also falls short in other important ways. Let’s dig into some examples. 🧵
Notably, Puerto Rico doesn't have Supplemental Security Income (SSI) benefits for low-income elderly and disabled people like those of us who live on the mainland, but instead has a much, much stingier program. www.cbpp.org/research/aid...
Javier Balmaceda@jbalmaceda787.bsky.social · 6mo agoAfter Bad Bunny’s Super Bowl performance at #SuperBowlLX, everyone’s talking about #PuertoRico. But here’s what many might not know about how federal policy affects the territory 🧵👇
After Bad Bunny’s Super Bowl performance at #SuperBowlLX, everyone’s talking about #PuertoRico. But here’s what many might not know about how federal policy affects the territory 🧵👇
Stock price nosediving today by 16% for New Fortress Energy, which manages power generation in #PuertoRico, after the firm warned it may seek bankruptcy protection if other restructuring options fall through. The disclosure was made in NFE's latest 10-Q. www.marketscreener.com/news/new-for...
S&P today downgraded New Fortress Energy, which manages key power generation in #PuertoRico, to selective default after the company missed a Nov. 17 interest payment and entered a forbearance deal on its 2029 secured notes. www.spglobal.com/ratings/en/r...
New Fortress Energy, whose subsidiary oversees energy generation in #PuertoRico, is considering filing for bankruptcy in the United Kingdom to take advantage of a cheaper restructuring process than Chapter 11 in the U.S. subscriber.politicopro.com/article/eene...
E&E News: New Fortress Energy mulls UK restructuring over Chapter 11
The company has been struggling with delayed projects that have hurt its cash flow and increased pressure on its already distressed debt.
subscriber.politicopro.com
1/2 A federal judge today ruled that Pres. Trump unlawfully removed three #PuertoRico Oversight Board members—Arthur Gonzalez, Andrew Biggs & Betty Rosa—since they were dismissed without cause under PROMESA. The members had filed suit Sept. 18. #muniland www.nytimes.com/2025/10/03/u...
Judge Says Trump Wrongly Removed Puerto Rico Oversight Board Members
nytimes.com
1/2 Sen. Wyden of the US Senate Finance Committee today published new findings indicating that Pantera Capital's Dan Morehead, a crypto billionaire based in #PuertoRico, may have improperly avoided more than $100M in federal taxes through a purported residency scam.
1/2 On Day 1 of the federal gov't shutdown, the Energy Dept confirms the reallocation of $365 million to address #PuertoRico’s grid crisis. Originally awarded for rooftop solar & battery installations, the funds will be distributed through PREPA, though exact use remains unclear.
DC Circuit Appeals Court today rejected a challenge by environmental groups to a natural gas pipeline built by New Fortress Energy in #PuertoRico. The pipeline was constructed without explicit approval from FERC, whose full review is still pending. media.cadc.uscourts.gov/opinions/doc...
Worth highlighting: The Heritage Foundation yesterday issued a statement applauding #PuertoRico’s $4B deal with New Fortress Energy to supply PR with natural gas for 7 years. The agreement includes a 3-year extension option & still requires OBoard approval. www.heritage.org/press/herita...
Heritage Foundation Applauds Deal Between Puerto Rico and New Fortress Energy
WASHINGTON—The Heritage Foundation congratulates Puerto Rico and New Fortress Energy for reaching an agreement to provide up to 75 trillion British thermal units a year (TBtu) of natural gas for seven...
heritage.org
Like the House bill, the Senate reconciliation package would supercharge fossil fuel extraction & use, increase energy costs, and worsen exposure to dangerous climate impacts. Read on for details.
This week, Pres. Trump issued several anti-immigrant Executive Orders including one that aims to withhold funding from states & localities it deems uncooperative with federal immigration enforcement efforts & designates as Sanctuary Jurisdictions www.whitehouse.gov/presidential...
Protecting American Communities from Criminal Aliens
By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered: Section 1. Purpose and
whitehouse.gov
The Trump Administration has made a shocking claim: that it can declare living people dead to cut off their access to government benefits and the broader U.S. financial system. Thread on my colleagues’ new blog 🧵 www.cbpp.org/blog/trump-a...
Trump and DOGE Claim Power to Falsely List Living Persons as Dead in Social Security Records | Center on Budget and Policy Priorities
The Trump Administration has made a shocking claim: that it can declare living people dead to cut off their access to government benefits and the broader U.S. financial system. According to reporting....
cbpp.org
1/2 Un pacto insĂłlito. La mayorĂa republicana en la Cámara federal ha aprobado una resoluciĂłn presupuestaria que pretende dar trillones en recortes contributivos a la gente más rica, a cambio de aplicar recortes masivos en Medicaid, SNAP y financiaciĂłn de prĂ©stamos estudiantiles.
1/2 #PuertoRico's economic growth is slowing & by some measures it's already contracting. Planning Board has lowered prior GDP growth estimates for FY25 & FY26 to 1.1% & 0.5%, respectively. Moody's & Oversight Board have less optimistic outlook, forecasting contractions for FY25.
A welcome headline, as there is so much to oppose: the Senate budget resolution is deeply flawed as it opens the door to making it harder for people to afford groceries & access healthcare – at the worst possible time as the risk of recession & price hikes rise. thehill.com/homenews/hou...
At CBPP we've been tracking the impacts of recent administrative actions that are hurting communities most impacted by climate change: www.cbpp.org/research/fed... Who will be hurt most? Read more below:
EPA's Gutting of Pollution and Climate Regulations Will Hurt Communities that Need Them Most | Center on Budget and Policy Priorities
March 12, 2025: EPA Administrator Zeldin announced that the agency will be reconsidering 31 rules and regulations, including those related to:
cbpp.org
1/ While new information surfaces that New Fortress is looking to further expand its LNG operation in #PuertoRico in the southern municipality of Ponce, Moody's is downgrading the company's legacy notes & senior loans deeper into junk rating territory.
The Senate has passed the deeply flawed House R funding bill. It’s far from “clean”— but the single most important fact now is this: The CR has set in law full-year funding levels that make clear the Administration's impoundments & mass firings remain illegal. Period.
Sharon Parrott@sharonparrott.bsky.social · last yr.The House CR is deeply problematic – but one of the very worst parts of the CR is it would force immediate cuts in the DC budget -- to police, schools, transportation & more.
The House may vote as soon as tomorrow on a federal government funding bill that contains a hidden, devastating surprise for the District of Columbia: a requirement that DC drastically slash its budget halfway through the fiscal yr, causing immediate cuts to police, schools, transportation & more.
CBPP's Samantha Jacoby on the House Budget Resolution amendment that opens the door for even deeper budget cuts: x.com/jacsamoby/st...
#PuertoRico non-profit Espacios Abiertos today issued a follow-up report denouncing the excessive costs of OBoard consultants: $2BN & counting. In 2016, the Congressional Budget Office had estimated that Board admin costs wouldn't exceed $370M over 10 yrs. espaciosabiertos.org/the-cost-of-...
👀 Something for people who care about Social Security to watch for: the Trump Admin is looking to drastically reduce federal building space. Social Security Administration (SSA) offices across the nation may be affected, harming retirees, people w/ disabilities & survivors. Details ⬇️
Yesterday S&P further downgraded New Fortress Energy—from B+ to B— on weak liquidity & high leverage. S&P has flagged high uncertainty around a $500M-$659M FEMA payment based on renegotiated power contracts w/ the #PuertoRico Electric Power Authority. disclosure.spglobal.com/ratings/en/r...
S&P Global Ratings
disclosure.spglobal.com
Happy #JobsDay! My first post-admin and the first report of the year. Let’s get it! (1/8)
a woman is sitting at a desk with a laptop and a monitor behind her .
ALT: a woman is sitting at a desk with a laptop and a monitor behind her .
media.tenor.com
With some Republicans considering cuts & harmful policy changes to #SNAP this year, let’s take a closer look at SNAP’s links to better health & lower health care costs.
Some Republican lawmakers are considering harmful cuts & policy changes to #SNAP this year. But these proposals wouldn’t only harm low-income people who need SNAP to afford groceries. They could also weaken SNAP’s effectiveness in supporting jobs & the broader economy. 🧵
The head of #PuertoRico's Electric Power Auth says PR needs yet another major fossil fuel power plant —preferably natural gas— in addition to the 478MW natural gas plant (aka Energiza) that is under development & expected to come online in 2028. www.elnuevodia.com/noticias/loc...
Jefa de la AEE opina que es necesaria otra planta de generaciĂłn fĂłsil para estabilizar el sistema
Mary Carmen Zapata indicĂł que estudios previos resaltan la conveniencia de una instalaciĂłn nueva en el sur de Puerto Rico
elnuevodia.com
OPM’s “deferred resignation” email to federal employees this week triggered more chaos & uncertainty. If it hollows out the civil service, it will harm ppl’s ability to access benefits & services-even those the Trump Admin purports to protect. Case in point: the Social Security Administration. 1/