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Orrin Hatch

Ryan: Congress needs to bring order to Puerto Rico crisis

House Speaker Paul Ryan said Congress needs to "bring order to the chaos" in Puerto Rico and prevent U.S. taxpayers from having to eventually bail out the territory, which is facing a $70 billion debt.

A House committee canceled a Thursday vote on legislation establishing a financial control board for Puerto Rico as Republicans remained divided over how Congress should address the economic crisis. Gov. Alejandro Garcia Padilla has warned that a debt restructuring measure needs to be approved soon with a looming deadline next month for a $422 million bond payment.

Puerto Rico has said it will likely default on the payment, which would mark the first time the...