By Mar-Vic Cagurangan
Variety News Staff

VICE Speaker Eddie Calvo, R-Maite, shot down Sen. Rory Respicio’s proposal for the creation of a bipartisan subcommittee that would look into the government of Guam’s debt, saying there seems to be no point in forming such a panel.
“I’m not sure what the end result of this subcommittee would be, or what it is expected to accomplish. I don’t think forming a subcommittee is necessary at this time considering that we are about to start the budget process,” Calvo told Variety.
Respicio, D-Agana Heights, was proposing that Calvo create a subcommittee under the committee on tax, finance and commerce that would take an “objective” and “honest” look into GovGuam outstanding debts “in a nonpartisan manner.”
“The administration has already advised us that they will be presenting their debt elimination plan. There are three minority senators who are members of my committee, and I don’t see the point of forming a new one,” said Calvo, chairman of the tax, finance and commerce committee.
Respicio reiterated his proposal for the creation of the debt subcommittee in a Feb. 6 follow-up letter to Calvo, in which he stated that “the only objective (of the subcommittee) is to provide determination of the true debt.”
“Our debt continues to affect every single member of our island. I believe it has reached the more than $1 billion mark,” Respicio wrote.