Congress just drafted a bill to help Puerto Rico climb out of its severe economic crisis and $70 billion debt debacle. One of the many band-aids House Republicans is showing Puerto Rico is a minimum wage below the federal requirement of $7.25 an hour....

Lowering the wage could make Puerto Rico more competitive "among neighboring islands where lower-wage labor is readily available," the House Committee on Natural Resources explained in a press release accompanying the bill....

Republican House Speaker Paul Ryan praised the bill. Ryan vowed that Congress would come up with a way to help the island by March 31 -- and that Puerto Rico would not get a taxpayer bailout....

Puerto Rico's governor and the island's many bondholders don't get along. They agree on little, but both sides immediately blasted the House Republican plan.