The Biden-Harris Administration has taken significant steps to aid Puerto Rico's economic recovery, focusing on a collaborative approach to address the island's unique challenges. The administration recognizes the severe fiscal crisis Puerto Rico faces, having entered a $70 billion bankruptcy in 2016. This situation left the government struggling to provide basic services and invest in critical infrastructure. From 2010 to 2020, Puerto Rico experienced a population decline of over 10%, leading to a shrinking workforce and a poverty rate higher than any mainland state.
On his first day in office, President Biden signed the Executive Order on Advancing Racial Equity and Support for Underserved Communities. This order laid the groundwork for federal agencies to address systemic inequities nationwide, including those affecting Puerto Rico.
The administration moved quickly from policy formulation to implementation, with guiding principles agreed upon by Governor Pedro Pierluisi and Deputy Secretary Graves for the Economic Dialogue effort. These efforts included raising awareness about opportunities and programs available in Puerto Rico through enhanced communication channels such as visits by senior government officials, technical assistance sessions, and translations into Spanish.
A series of milestones have been achieved through these efforts, including investments in infrastructure rebuilding, climate change protection, human capital development, economic diversification through innovation and entrepreneurship support, and improvements in governance and data infrastructure.
To assist municipalities in southern Puerto Rico with reconstruction projects, HUD extended technical assistance to the new ConSur municipal consortium. They also collaborated with the Puerto Rico Department of Housing on an action plan for deploying $200 million in HUD funds dedicated to housing and economic development projects. The EDA's designation of Southern PR as an Economic Development District grants unprecedented autonomy for federal funding applications.
Puerto Rico now benefits from a dedicated Census team and digital portal that supports decision-makers with reliable data. In 2024, the First Federal Statistical Research Data Center was inaugurated on the island.
Looking ahead, while over $100 billion has been obligated federally towards recovery efforts under this administration, more planning and collaboration are needed. The people of Puerto Rico must continue leading these efforts towards their envisioned society.
Communication bridges have been built among officials across San Juan and Washington D.C., which are vital for sustained progress. These channels must be maintained for continued recovery success.
Vice President Harris noted during her visit in March 2024 that Puerto Rico has added over 100 thousand new jobs since this administration took office—marking its first year of positive net migration since COVID-19 began—a signifier that hope is being restored despite ongoing challenges like an unreliable electric system.
