WHITE HOUSE SEEKS $4.9B TO SHORE UP PUERTO RICO FINANCES

On Tuesday the Trump administration sought an additional $4.9 billion in emergency hurricane aid to fend off what Puerto Rico’s governor recently warned could become a fiscal catastrophe. The OMB sent a formal request to House leadership this afternoon, revising its most recent recovery package request to nearly $35 billion. The extra $4.9 billion would “address the immediate liquidity issue that Puerto Rico is having.”