Senate Approves $70 Billion Puerto Rico Debt Bill, Passes to Obama

On Thursday, President Obama is expected to sign a $70 billion debt restructuring package to help the U.S. territory of Puerto Rico.

The package was approved by the Senate Wednesday.

Right now, Puerto Rico is facing a $2 billion payment that it can’t make.

The bipartisan bill won’t dissolve the issue, but it will certainly help buy some time.

President Obama says he’s looking forward to signing the measure.

This restructuring package should help well through February 2017.