Yellen says top-line federal spending deal consistent with debt ceiling pact

VIENNA, Va. (Reuters) – U.S. Treasury Secretary Janet Yellen said on Monday that she believes a top-line federal spending deal reached by congressional leaders over the weekend is consistent with last June’s debt ceiling agreement and will not harm the Internal Revenue Service’s modernization drive in the near term.

Yellen, speaking to reporters at an event at the Financial Crimes Enforcement Network’s (FinCEN) suburban Washington headquarters, said she was encouraged by the deal announced on Sunday by House of Representatives Speaker Mike Johnson, a Republican, and Senate Majority Leader Chuck Schumer, a Democrat, but could not say whether a federal government shutdown could be avoided as current funding lapses.

“It’s a basic responsibility of Congress of the government to keep the government up and running,” Yellen said. “Americans depend on these services and posing a threat to continue good economic performance is something that we don’t need, so I’m hopeful we will not have to shut down.”

Source link