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Political and Legislative

The Treasury Secretary Urges Congress to Raise the Debt Ceiling

Treasury Secretary Janet Yellen on Monday urged Congress to raise the debt ceiling through “regular order,” the same day Democrats plan to unveil their multi-trillion budget resolution which will potentially include instructions for raising the debt limit.

“In recent years Congress has addressed the debt limit through regular order, with broad bipartisan support. In fact, during the last administration, Democrats and Republicans came together to do their duty three times. Congress should do so again now by increasing or suspending the debt limit on a bipartisan basis,” Yellen said in a statement.

Yellen’s statement, which is the first public stance the Biden administration has taken on the issue, comes just over one week after the two-year deal to suspend the debt ceiling expired, reimposing the legal limit on how much debt the U.S. government can owe.

Read the source article at The Hill

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