Antonio Weiss, the former acting number two at the US Department of the Treasury, guided the process of what eventually became the PROMESA law from the US Executive branch. As the architect of PROMESA, Weiss stated that they needed a proposal with bipartisan support.
The law was the result of efforts to address the financial crisis in Puerto Rico. Weiss played a key role in shaping the legislation, which aimed to provide a framework for the island's debt restructuring and economic recovery.
The PROMESA law was a significant development in the ongoing efforts to address Puerto Rico's financial challenges.