U.S. Secretary of the Treasury Janet Yellen urged Speaker of the House Kevin McCarthy to raise or suspend the debt ceiling by June.
Yellen also said the Treasury would be suspending the issuance of state and local government series Treasury securities, which are special-purpose securities that are issued to states and municipalities to help them comply with tax rules.
Members talk on the floor of the House Chamber on the opening day of the 118th Congress on Tuesday, January 3, 2023, at the U.S. Capitol in Washington, D.C. "When Treasury issues SLGS, they count against the debt limit," Yellen said."Treasury will take this action to manage the risks associated with the debt limit, but it is not without costs, as it will deprive state and local governments of an important tool to manage their finances."
As Yellen’s letter became known, Fox News confirmed that Biden called the top four Congressional leaders and invited them to the White House to discuss the debt ceiling May 9.Yellen warned McCarthy in the letter that waiting until the last minute to suspend or increase the debt limit can harm businesses and consumer confidence, while also raising short-term borrowing costs for taxpayers and negatively impacting the credit rating of the country.
Get the latest updates from the 2024 campaign trail, exclusive interviews and more Fox News politics content.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Treasury Secretary Yellen moves up debt ceiling deadline to early JuneThe IRS brought in less taxes than expected this year, and the Treasury says it may run out of funds as early as June 1.
Baca lebih lajut »
Treasury Secretary Janet Yellen says US could hit debt ceiling as soon as June 1In a letter Monday to House and Senate leaders, Yellen urged Congress “to ... act as soon as possible” to address the $31.4 trillion limit on its legal borrowing authority.
Baca lebih lajut »
Treasury Secretary Janet Yellen says US could hit debt ceiling as soon as June 1Treasury Secretary Janet Yellen notified Congress on Monday that the U.S. could default on its debt as early as June 1, if the body does not raise or suspend its statutory borrowing authority before then.
Baca lebih lajut »
Yellen warns Congress must pass debt limit hike by June 1 or risk defaultTreasury Secretary Janet Yellen warned Congress on Monday that the U.S. could be unable to pay its bills as early as June 1 if lawmakers do not raise the federal debt limit.
Baca lebih lajut »
Treasury Secretary Yellen Warns US Could Default on Its Debt by June 1 – Economics Bitcoin NewsU.S. Treasury Secretary Janet Yellen says the Treasury will be unable to pay all of the government's debt obligation “as early as June 1.'
Baca lebih lajut »
Sen. Ron Johnson: Antony Blinken 'lied boldface to Congress' over contact with Hunter BidenSen. Ron Johnson discussed the Biden family business dealings, telling 'Sunday Morning Futures' that Secretary of State Antony Blinken lied under oath to Congress over contact with Hunter Biden.
Baca lebih lajut »