How To Write A Pension Letter

WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen beatific a letter to Congressional administration apropos the debt limit.

The abounding argument of the letter  and additionally accessible below.

The Honorable Nancy Pelosi

Speaker

U.S. House of Representatives

Washington, DC 20515

Dear Madam Speaker:

I am autograph to chase up on my antecedent belletrist apropos the debt absolute and to accommodate added advice apropos the Treasury Department’s adeptness to abide to accounts the government in the absence of Congressional activity to abode the debt limit.

After the debt absolute was reinstated on August 1, Treasury began employing assertive amazing measures to abide to accounts the government on a acting basis.  These measures, which are accustomed by law and accept been acclimated in antecedent debt absolute impasses, accommodate a abeyance of assertive investments in the Civil Service Retirement and Disability Fund, the Postal Service Retiree Health Benefits Fund, and the Government Securities Investment Fund of the Federal Employees’ Retirement System Thrift Savings Plan.  Once all accessible measures and banknote on duke are absolutely exhausted, the United States of America would be clumsy to accommodated its obligations for the aboriginal time in our history.

Our estimates of the aeon of time that amazing measures will aftermost accept been aesthetic in contempo weeks, although they abide to be accountable to ample ambiguity due to the accustomed challenges of forecasting the payments and receipts of the U.S. government, including the ambiguity in the akin of accumulated and alone taxes due September 15, acute by the added ambiguity due to the communicable and accompanying bread-and-butter relief, and added factors.

Given this uncertainty, the Treasury Department is not able to accommodate a specific appraisal of how continued the amazing measures will last.  However, based on our best and best contempo information, the best acceptable aftereffect is that banknote and amazing measures will be beat during the ages of October.  We will abide to amend Congress as added advice becomes available.

We accept abstruse from accomplished debt absolute impasses that cat-and-mouse until the aftermost minute to append or access the debt absolute can account austere abuse to business and customer confidence, accession concise borrowing costs for taxpayers, and abnormally appulse the acclaim appraisement of the United States. A adjournment that calls into catechism the federal government’s adeptness to accommodated all its obligations would acceptable account irreparable accident to the U.S. abridgement and all-around banking markets.  At a time back American families, communities, and businesses are still adversity from the furnishings of the advancing all-around pandemic, it would be decidedly capricious to put the abounding acceptance and acclaim of the United States at risk.

I afresh agenda that Congress has addressed the debt absolute in contempo years through approved order, with ample bipartisan support.  I respectfully appetite Congress to assure the abounding acceptance and acclaim of the United States by acting as anon as possible. 

Sincerely,

                                                                        Janet L. Yellen

Identical letter beatific to:

The Honorable Kevin McCarthy, House Republican Leader

The Honorable Charles E. Schumer, Senate Majority Leader

The Honorable Mitch McConnell, Senate Republican Leader

cc:       The Honorable Richard E. Neal, Chairman, House Committee on Ways and Means

The Honorable Kevin Brady, Ranking Member, House Committee on Ways and Means

The Honorable Ron Wyden, Chairman, Senate Committee on Finance

The Honorable Mike Crapo, Ranking Member, Senate Committee on Finance

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How To Write A Pension Letter – How To Write A Pension Letter
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