Rep. David Schweikert (R-Ariz.) introduced a bill that would require the U.S. Treasury Secretary to appear before Congress before the debt ceiling is reached, or when extraordinary measures are taken to prevent the nation from defaulting on its financial obligations. H.R. 846, referred to as the ‘Debt Explanation Before Taxwriters Act, or DEBT Act, was…
Bill Would Require Treasury Secretary to Appear Before Congress When Debt Ceiling Is Near
Treasury Unable to Prioritize Bill Payment If Debt Ceiling Reached, Say Former Officials
February 2, 2023
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debt ceilingeconomyPoliticsRep. David Schweikert (R-Ariz.)ASecretary of the Treasury Janet YellenUSUS News
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Former U.S. Treasury officials have said there is no way to prioritize which bills would get paid first in the event that the United States reached its statutory debt ceiling. Rep. David Schweikert (R-Ariz.) asked U.S. Treasury Secretary Janet Yellen whether the Treasury now has the capability to prioritize bill payments if the government can…
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