In the middle of browning, add onions and peppers; stirring several times. During the last minute of browning, reduce heat to medium-low and add chopped garlic, stirring constantly. Drain the excess fat.
Add the beef broth, chicken broth and tomatoes to the salsa and simmer. Simmer for 15 minutes or until the peppers begin to soften.
Add the rice and coat well. Cover and cook for 5-7 minutes or until the rice is tender. For best results, serve quickly. Season with kosher salt and freshly ground black pepper to taste.