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*|MC_PREVIEW_TEXT|*<!–

View this email in your browser Contact: Hunter Lovell                                                              202-225-2190 Schweikert Introduces Legislation Requiring Treasury Secretary to Appear Before Congress Prior to Hitting Debt Limit WASHINGTON, D.C. — Last night, Congressman David Schweikert (AZ-01) introduced the Debt Explanation Before Taxwriters (DEBT) Act, legislation requiring the United States Treasury Secretary to appear before Congress before the debt limit is reached or when extraordinary measures are taken to prevent the U.S. from defaulting on its debt obligations. “As Secretary of the Treasury, Janet Yellen has the responsibility of deciding what extraordinary steps are necessary to prevent us from defaulting on our debt, which will absolutely never happen. It’s imperative that Secretary Yellen be transparent with Congress on Treasury’s debt management capabilities so that we rein in unsustainable spending and boost financial security for hardworking families,” said Rep. Schweikert. Background: The DEBT Act specifies that the Treasury Secretary must appear before the House Ways and Means Committee and the Senate Finance Committee to explain the details on any extraordinary measures taken to pay the nation’s bills and an estimate of the administrative costs needed to keep the country under the debt cap. Additionally, the Treasury Secretary must inform the Committees when extraordinary measures will be suspended upon an increase in the debt ceiling. To read the full text of the bill, click here.   ### Congressman David Schweikert is serving his seventh term in the United States Congress. He holds a seat on the Ways and Means Committee and is the current Chairman of the Oversight Subcommittee. He is also the Lead House Republican on the bicameral Joint Economic Committee, co-chairs the Valley Fever Task Force with Speaker Kevin McCarthy, and is the Republican Co-Chair of the Blockchain Caucus, Telehealth Caucus, Singapore Caucus, and the Caucus on Access to Capital and Credit.   <!– –> <!– –> Copyright © 2023 Congressman David Schweikert, All rights reserved. You’re receiving this e-mail because you opted in with our staff. Our mailing address is: Congressman David Schweikert 460 Cannon House Office Building Washington, DC 20515-0001 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.

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