White House Chief of Staff Ron Klain is expected to step down from his position in the coming weeks, The New York Times reported, citing anonymous senior administration officials.
Treasury Secretary Janet Yellen asserted on Saturday that House Republicans attempting to negotiate spending cuts amid the renewed debt ceiling battle are “very irresponsible.”
The U.S. government bumped up against its debt limit Thursday, prompting the Treasury Department to take “extraordinary” accounting steps to avoid default — as friction between President Joe Biden and House Republicans raised concern about whether the U.S. can sidestep an economic crisis.
On Friday, Treasury Secretary Janet Yellen wrote a letter to congressional leaders warning that the U.S. would hit its debt limit on January 19 and encouraged Congress to "act promptly to protect the full faith and credit of the United States," CNBC reported.
When the Democrats finally passed the "Inflation Reduction Act" in 2022 (how's that going?), they included several tax hikes set to take effect on Jan. 1, 2023.
The INFORM Act requires e-commerce companies to collect, verify, and disclose personal information from high-volume, third-party sellers with annual revenues exceeding $5,000 and will be enforced by the Federal Trade Commission.
