Treasury Secretary Urges Congress to Raise Debt Ceiling Through ‘Regular Order’

Treasury Secretary Janet Yellen urged Congress on Monday to raise the debt ceiling through “regular order,” as Senate Democrats get ready to pass the $1.2 trillion bipartisan infrastructure bill this week and introduce their $3.5 trillion spending package but neither bill addresses increasing the debt ceiling. The debt suspension expired at the end of July and failure to increase or suspend the statutory debt limit—now at $28.5 trillion—could trigger another federal government shutdown or a debt default. “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. The Senate Majority Leader Chuck Schumer’s office did not immediately return a request for comment. According to the …Read More

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