Washington, D.C. – House Ways and Means Committee Chairman Jason Smith (MO-08) issued the following statement in response to Treasury Secretary Janet Yellen’s letter to congressional leadership on the debt limit:
“Over the last two years, we have seen America’s debt crisis grow substantially as President Biden and his Democrat allies in Congress have increased federal spending by $10 trillion, adding to our national debt and sparking the highest spike in prices—including the fastest increase in interest rates—in 40 years.
“The American people recognize the danger posed by out-of-control deficit spending and demand Congress do everything in its power to get our fiscal house in order.
“I urge President Biden and Majority Leader Schumer to follow past precedent and work with House Republicans to find a commonsense, bipartisan path to putting America on a more sustainable fiscal trajectory and meet our debt obligations. The American people deserve a government that is accountable and an economy that is strong.”