Paul Ryan Sides With Kochs Over 3.5 Million Puerto Ricans

April 28, 2016

Puerto Ricans thought they could count on Speaker Paul Ryan to help restructure the island’s debt crisis since he committed to a self-imposed March 31, 2016 deadline to produce a plan. But it looks like Ryan was deterred from his mark.

Could it be the recent influx of $600,000 from Charles and Elizabeth Koch to the Speaker’s “Team Ryan” leadership PAC that swayed Ryan’s resolve to help Puerto Ricans avoid an economic collapse, choosing instead to protect the pocketbooks of billionaire bondholders?

As the clock ticks down to the next payment deadline on Monday, May 2, Puerto Rico is likely to default on its $422 million debt payment installment. Paul Ryan appears to be fine letting that happen, which would lead to more school closures and public services cut.

Check out Bridge Project’s recent report, “The Kochs’ Wealth vs The Commonwealth of Puerto Rico” that gives an overview of the Koch network’s role in the financial crisis, descriptions of the various Koch-backed front groups that have tried to delay and block solutions to help Puerto Ricans, resulting in forced school closures and American citizens in Puerto Rico being cut off from health and public services. It also lists the hedge fund investors who are associated with the Koch network that have exploited the financial crisis for profit gain, and have the most to gain or lose depending on what Paul Ryan ends up doing.

Koch-Backed Groups Have Spent More Than $669,350 Supporting Paul Ryan; $565,400 this year alone

Contributor Contributor Organization Date Target Amount
Koch, Charles Koch Industries 03/28/2016 Team Ryan (Paul D. Ryan’s Joint Fundraising Committee) $244,200
Koch, Elizabeth None 03/24/2016 Team Ryan (Paul D. Ryan’s Joint Fundraising Committee) $244,200
Koch Industries PAC Koch Industries 02/04/2016 Team Ryan (Paul D. Ryan’s Joint Fundraising Committee) $71,000
Koch Industries PAC Koch Industries 02/04/2016 Ryan For Congress Inc. $6,000
Koch Industries PAC Koch Industries 10/23/2015 Ryan For Congress Inc. $1,500
Koch Industries PAC Koch Industries 03/03/2015 Ryan For Congress Inc. $2,500
Koch Industries PAC Koch Industries 12/07/2013 Ryan For Congress Inc. $1,500
Koch Industries PAC Koch Industries 12/07/2013 Ryan For Congress Inc. $1,000
Koch Industries PAC Koch Industries 05/02/2014 Ryan For Congress Inc. $5,000
Koch Industries PAC Koch Industries 05/02/2014 Ryan For Congress Inc. $2,500
Koch, David Koch Industries 05/02/2014 Ryan For Congress Inc. $2,600
Koch, David Koch Industries 05/02/2014 Ryan For Congress Inc. $2,600
Koch Industries PAC Koch Industries 06/13/2012 Ryan For Congress Inc. $5,000
Koch Industries PAC Koch Industries 06/22/2011 Ryan For Congress Inc. $3,500
Koch Industries PAC Koch Industries 02/17/2011 Ryan For Congress Inc. $1,500
Koch Industries PAC Koch Industries 04/14/2010 Ryan For Congress Inc. $1,500
Koch Industries PAC Koch Industries 08/19/2010 Ryan For Congress Inc. $3,500
Koch Industries PAC Koch Industries 07/27/2009 Ryan For Congress Inc. $1,000
Koch Industries PAC Koch Industries 09/23/2009 Ryan For Congress Inc. $4,000
Koch Industries PAC Koch Industries 09/11/2008 Ryan For Congress Inc. $2,500
Koch Industries PAC Koch Industries 08/14/2008 Ryan For Congress Inc. $2,500
Koch Industries PAC Koch Industries 10/30/2007 Ryan For Congress Inc. $2,500
Koch Industries PAC Koch Industries 09/14/2007 Ryan For Congress Inc. $2,500
Koch, Julia N/A 03/19/2008 Ryan For Congress Inc. $1,500
Koch Industries PAC Koch Industries 09/05/2006 Ryan For Congress Inc. $5,000
Koch Industries PAC Koch Industries 09/05/2006 Ryan For Congress Inc. $1,000
Koch Industries PAC Koch Industries 07/31/2006 Ryan For Congress Inc. $1,000
Koch Industries PAC Koch Industries 03/10/2006 Ryan For Congress Inc. $1,000
Koch Industries PAC Koch Industries 11/01/2005 Ryan For Congress Inc. $1,000
Koch Industries PAC Koch Industries 09/14/2005 Ryan For Congress Inc. $1,000
Koch Industries PAC Koch Industries 11/20/2003 Ryan For Congress Inc. $2,500
Koch Industries PAC Koch Industries 06/19/2003 Ryan For Congress Inc. $2,500
Koch Industries PAC Koch Industries 03/13/2002 Ryan For Congress Inc. $1,000
Koch Industries PAC Koch Industries 10/30/2001 Ryan For Congress Inc. $4,000
Koch Industries PAC Koch Industries 05/22/2000 Ryan For Congress Inc. $1,000
Koch Industries PAC Koch Industries 06/29/1999 Ryan For Congress Inc. $5,000
Koch Industries PAC Koch Industries 09/21/1998 Ryan For Congress Inc. $5,000
Koch Industries PAC Koch Industries 06/23/1998 Ryan For Congress Inc. $2,500
Koch Industries PAC Koch Industries 04/06/1998 Ryan For Congress Inc. $2,500
Koch, David Koch Industries 11/18/1998 Ryan For Congress Inc. $1,000
  Total: $653,100

                                                                                                                                          [FEC, Accessed 4/25/16]

Paid for by American Bridge 21st Century Foundation