Treasury Secretary Jacob Lew on Monday warned of widespread consequences if the Senate fails to act before Friday on a rescue package for debt-stricken Puerto Rico. In a letter, Lew said the crisis in Puerto Rico "will ratchet up to an even higher level" if Congress doesn't act in the next four days. Last week, Senate Democratic leader Harry Reid said his caucus has serious concerns about the bill despite President Barack Obama's support for it. Senate Majority Leader Mitch McConnell, R-Ky., has said the Senate will consider the House bill this week, but he will need support from both parties to surmount a certain 60-vote threshold to advance legislation. The House is out of session until July 5, so the Senate will have to pass the House bill unchanged for it to head to the president's desk for his signature before the Friday deadline.

Source: Fox News June 27, 2016 15:45 UTC