US Treasury Secretary Blames Congress for Debt Limit Delays

  • 2/10/2023
  • 17:46
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Lima, Peru, Dhu-AlHijjah 25, 1436, October 09, 2015, SPA -- U.S. Treasury Secretary Jacob Lew admonished Congress for not moving fast enough to raise the government borrowing limit at a time of heightened fragility in the global economy. Speaking at the annual meetings of the International Monetary Fund in Peru, Lew said lawmakers can add vigor to the U.S. recovery by renewing funding of the Export-Import Bank and passing a transportation bill that has languished for months, AP reported. Lew said officials from the world's biggest economies will discuss in Lima a proposal to curtail tax avoidance by multinational companies. Economists say over $100 billion in tax revenue is lost annually as a result of profit shifting to low or no tax countries. -- SPA 03:46 LOCAL TIME 00:46 GMT www.spa.gov.sa/w

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