Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises and senior Member of the House Budget Committee, issued the following statement today after sending a letter to Treasury to seek clarification on the potential unwinding of extraordinary measures during the debt ceiling waiver period should H.R. 325 become law:
"Given that the Obama Administration regularly circumvents the will of Congress, we hope this letter will clear up any confusion regarding the scope of allowable debt obligations under a temporary suspension of the debt ceiling. I look forward to receiving Acting Secretary Wolin's clarification on Treasury's actions during the debt limit suspension period."
The complete text of the letter to Acting Secretary Wolin is here: