WASHINGTON – Today, National Governors Association Chair Governor Phil Murphy of New Jersey and Vice Chair Governor Spencer Cox of Utah released the following statement after the Treasury Department began taking measures to avoid breaching the national debt limit.
“Our nation’s Governors call on Congress and the Administration to work together to ensure a bipartisan solution to address the U.S. statutory debt ceiling. Failure on the part of the Treasury Department to meet its federal obligations would create significant uncertainty and risk to American citizens, government services, and global financial markets.
“We call on Congress to increase or suspend the debt limit as soon as possible. And we call on both the Administration and Congress to consider serious long-term reforms that will reduce the national debt and put the country on more sustainable fiscal footing. States and territories succeed when there is certainty and stability in federal resources.”