WASHINGTON, D.C. — Yesterday, Congressman David Schweikert (AZ-01) sent a letter to U.S. Treasury Secretary Janet Yellen requesting an update on the Department’s efforts to exhaust its debt management tools to pay outstanding federal bills. This letter was sent in response to previous claims by the Department that outdated systems and technical problems have hampered its ability to resolve overdue payments.
In 1985, the Government Accountability Office (GAO) determined that the Treasury Secretary has the authority to decide the order in which debt obligations are paid in the event that Congress does not raise the debt ceiling.
Congressman Schweikert wrote to Secretary Yellen with the following questions:
- What progress has Treasury made in taking the measures outlined in the 1985 GAO decision?
- Has Treasury taken the necessary steps in upgrading their technical systems in order to accommodate these measures?
To read the full letter, click here.Back to News