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by Brownstein Hyatt Farber Schreck, LLP
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On Jan. 19, 2023, the United States government reached its $31.4 trillion borrowing limit, which was signed into law (P.L. 117-73) by President Joe Biden on Dec. 16, 2021.
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Last week, Treasury Secretary Janet Yellen wrote to congressional leadership notifying them of the impending issue.
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Yellen noted that once the limit is reached, the Treasury Department will need to take “certain extraordinary measures” to prevent a default on its obligations. However, the Treasury Department estimates that these measures may only carry the government through early June.
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Our thanks to Brownstein Hyatt Farber Schreck, LLP.
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About Brownstein Hyatt Farber Schreck, LLP
Brownstein Hyatt Farber Schreck is a unique law firm. Walk into any of our offices and you’ll immediately recognize a different type of energy. Complacency doesn’t have a place here. Flexibility and inspiration do. Our culture and enthusiasm allow our attorneys, policy consultants and legal staff to stay ahead of our clients’ needs and provide them with the resources they require to meet their business objectives.
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Upcoming Events
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January 25: FEUSA Event with SPB, Pathstone & Chubb, Phoenix/Scottsdale, AZ
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February 7: Minneapolis Family Office Group MNFOG, Minneapolis, MN
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March 9: U of Wisconsin, Madison, WI
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March 23: Maine FBC Event
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March 29: High Center FBC, Elizabethtown, PA
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- April 19 - 21: Transitions East, St Petersburg, FL
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Sign-Up For New Podcast: "Voice of Family Business on Capitol Hill" with host Pat Soldano.
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Join our growing family of podcast listeners by clicking on the links below to our new podcast, "The Voice of Family Business on Capitol," where each episode delves into the major issues facing family businesses and family business centers today. Subscribe by clicking on these links, or wherever you get your podcasts.
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We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…
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As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a supporter.
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The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That’s why Policy and Taxation Group is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill.
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About Policy and Taxation Group
Policy and Taxation Group is your voice in Washington on economic freedom. We advocate for policies that allow American families to fully enjoy the economic liberties and benefits of a robust free market unique to our nation. For over 25 years, we have been the loudest voice in the nation’s capital on eliminating the death tax. This ill-conceived tax has a destructive impact on families, family businesses, job creation, and the national economy.
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Have questions or would like more information about becoming a Supporter or donating? Please contact John Marino at [email protected].
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