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    janet yellen

    Treasury Secretary Janet Yellen speaks during a press conference

    Treasury Chief Warns US Could Hit Debt Limit in Mid-January

    Treasury Secretary Janet Yellen implored Congress to "protect the full faith and credit of the United States" or face imposition of "extraordinary measures."

    Brett Wilkins
    Dec 27, 2024

    U.S. Treasury Secretary Janet Yellen warned Congress on Friday that—absent imminent action to raise or suspend the nation's debt limit—her agency would likely have to take "extraordinary measures" as soon as January 14 to avert hitting the debt ceiling.

    "As you know, the debt limit is the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments," Yellen wrote in a letter sent to congressional leaders. "In June 2023, the Fiscal Responsibility Act of 2023 was enacted, suspending the debt limit through January 1, 2025."

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    debt
    LNG protesters hold banners in Washington, D.C.

    Biden Urged to 'Follow the Facts' as Study Shows LNG Emissions 33% Worse Than Coal

    "The science is clearer than ever: LNG exports and natural gas-sourced hydrogen pose grave risks to our planet and will undermine President Biden's own climate goals," said one campaigner.

    Brett Wilkins
    Sep 12, 2024

    More than 125 climate, environmental, and health scientists and researchers on Thursday implored the Biden administration to "follow legitimate science and reject the expansion of fossil fuel programs," pointing to a new study showing liquefied natural gas has a 33% greater greenhouse gas footprint than coal.

    "As U.S. scientists and researchers we are closely following efforts by the U.S. Department of Energy and the U.S. Department of Treasury to develop greenhouse gas analyses of liquefied natural gas (LNG) and hydrogen, and implore you to use the best available science when conducting this analysis," the scientists wrote in a letter to Energy Secretary Jennifer Granholm and Treasury Secretary Janet Yellen.

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    fossil fuels
    Treasury Secretary Janet Yellen speaks during a press conference

    'Grave Mistake': Yellen Under Fire for Opposing Global Billionaires Tax

    "To reject the very idea of a global minimum tax on billionaires is to cede control of our economies and our democracies to oligarchs and plutocrats," warned one progressive critic over the U.S. Treasury Secretary's position.

    Jon Queally
    May 21, 2024

    U.S. Treasury Secretary Janet Yellen is being taken to task by progressive critics after coming out Monday in opposition to a proposed global tax on billionaires at an upcoming Group of 7 nations meeting where the measure is on the agenda.

    Speaking to the Wall Street Journal, Yellen told the newspaper that while the Biden administration broadly supports more progressive taxation, in which those at the top of the income and wealth scale pay higher rates, the U.S. will not back a plan—put forth by Brazil and backed other G20 leaders earlier this year—that would set a minimum international rate for the planet's ultra-wealthy.

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