Yellen Says Biden’s $1.2 Trillion Infrastructure Bill Demands Raising Of The Debt Limit ‘As Soon As Possible’

Yellen Says Biden’s $1.2 Trillion Infrastructure Bill Demands Raising Of The Debt Limit ‘As Soon As Possible’


Treasury Secretary Janet Yellen told Congress that the signing of the Infrastructure Investment and Jobs Act means that lawmakers should raise the debt ceiling “as soon as possible.”

In 2019, Congress suspended the debt ceiling — which prevents the federal government from assuming a certain level of national debt — until August 2021. To prevent a potential default on federal obligations, Senate Minority Leader Mitch McConnell (R-KY) gave Democrats a short-term deal in October to suspend the debt ceiling — which is designed to make Democrats enact a permanent solution on their own by the end of the year.

Yellen warned House Speaker Nancy Pelosi (D-CA) that the passage of the $1.2 trillion bipartisan infrastructure bill — signed by President Biden on Monday — demands that lawmakers

Trending: Alleged Epstein madam Ghislaine Maxwell on trial — here’s what to expect

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend