Press Release
For Immediate Release: 
September 8, 2021
Contact Info: 
Margaret Mulkerrin 202-225-3130
WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today on Treasury Secretary Yellen's letter to Congressional Leadership on the urgent need to address the statutory debt limit:

"Secretary Yellen has now warned Congress, for the third time, that we must act to prevent a default on our debt as early as next month.  It would be a disaster for our economy and for tens of millions of American families if Republicans refuse to join Democrats in responsibly addressing the debt limit.  Raising or suspending the debt limit, which Republicans did three times under President Trump, to forestall such a catastrophe, would not authorize any additional spending.  Instead, it allows our country to make good on the purchases it has already made, most of which was incurred by the previous Administration - keeping the full faith and credit of our word that the United States will pay its bills on time.  
 
"I urge Senator McConnell to stop playing dangerous games with our economy and the well-being of so many Americans.  Republicans must not engage in the kind of brinksmanship that they’ve done in the past, to the detriment of America’s economy.  I urge them to act responsibly and work with us to address this issue, as they did every time the previous president asked them to do so.  Let's work together to ensure that our country fulfills its obligations and that we can continue our economic recovery without impeding it through partisan-driven roadblocks."