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>> JACK LEW Latest News

APR 11, 2013 - MarketWatch

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Lew rejects House Republican debt limit plan

WASHINGTON (MarketWatch) - Treasury Secretary Jack Lew said Thursday the administration would oppose legislation proposed by conservative House Republicans to prioritize payments in case Congress fails to raise the debt ceiling this summer. The Republican plan would direct the Treasury Department to pay the interest and principal on U.S. bonds before making other payments to avoid a default on the debt. In testimony to the House Ways and Means Committee, Lew said that Congress had "no choice" but to extend the debt limit. "There is no way to pick and choose about paying your bills without ... Read More

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