Casten Statement on Preventing a Government Shutdown
Washington, D.C.— Today, U.S. Congressman Sean Casten (D-IL) voted for the Senate Amendment to H.R. 5305, a Continuing Resolution to keep the government open through December 3rd, 2021 and released the following statement:
"The bottom line here is we have to keep our government open," said Rep. Sean Casten. "While I'm relieved we have passed the continuing resolution to avoid a Republican-led shutdown and ensure vital services for seniors and veterans continue uninterrupted, Americans need long-term funding bills. I will continue to work to achieve that goal, and I urge my colleagues on the other side of the aisle to stop playing partisan politics with our economy and address the debt ceiling. We must avoid a default and ensure the full faith and credit of the United States is never questioned."
Earlier today, during a House Financial Service Committee Hearing on Oversight of Treasury Department's and Federal Reserve's Pandemic Response, U.S. Representative Sean Casten (D-IL) asked Secretary Yellen about eliminating the debt ceiling.
In response to Casten's question on addressing the debt ceiling and avoiding default, Secretary Yellen agreed that the debt ceiling should be eliminated. In her opening testimony she highlighted how it is imperative that Congress address the debt limit to avoid defaulting for the first time in history. Casten discussed that the debt ceiling is a manufactured crisis - Republicans and Democrats have repeatedly voted to raise the debt limit and failure to do so now could result in 50 million seniors not receiving Social Security, delays in payments to US Service Members, 30 million families not receiving Child Tax Credit payments on time, and rising unemployment.
During his exchange with Secretary Yellen, Casten - who has fought tirelessly for federal action on climate risk since he came to Congress - asked for an update on the work Treasury is doing to mitigate the risk climate change poses to the financial system following the President's May Executive Order on climate financial risk. Yellen announced that the Treasury is working on a climate risk report that will be released in late October or early November.
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