10 State Treasurers, Auditors Demand Congress Intervene As Economy Falters Amid Trump’s Trade Wars

Open letter demands that Congress “reclaim its constitutional authority over trade, fiscal policy, and monetary oversight”

Ten state elected financial leaders have issued an urgent warning to congressional leadership, calling for immediate action to address what they describe as a looming economic crisis threatening state economies nationwide as a result of the Trump administration’s trade and economic policies. In a letter to House Speaker Mike Johnson and Senate Majority Leader John Thune, the group of state treasurers and one auditor delivered a stark assessment to congressional leadership: America's economic credibility is eroding, and Congress must reassert its constitutional authority before markets deteriorate further.

Coordinated in partnership with Americans for Responsible Growth, the signers demand that lawmakers take immediate action, saying “Congress was not meant to be passive, but an active and co-equal branch of government—one that ensures continuity, credibility, and long-term stewardship, especially when the executive branch falters.”

“The stability of the American economy—and the credibility of our governance—is on the line,” the treasurers continued. “Congress must act—not as a matter of party, but as a matter of sovereignty. [...] Congress must reclaim its constitutional authority over trade, fiscal policy, and monetary oversight. You must protect the independence of the Federal Reserve, restore discipline to our national economic strategy, and send a clear signal to markets and the world that the United States still governs itself with seriousness and stability.”

As state financial leaders, the elected fiscal stewards of their states, signers called on Speaker Johnson and Majority Leader Thune to take congressional action as the country faces historic stock market losses, weakening of the U.S. dollar, rising borrowing costs, and threats to Federal Reserve independence that are already impacting state finances and local economies.

Read the full letter here, signed by the following financial officers:

1. Julie Blaha, Minnesota State Auditor

2. Colleen C. Davis, Delaware State Treasurer

3. James A. Diossa, Rhode Island General Treasurer

4. Michael W. Frerichs, Illinois State Treasurer

5. Deborah B. Goldberg, Massachusetts State Treasurer and Receiver-General

6. Mike Pellicciotti, Washington State Treasurer

7. Mike Pieciak, Vermont State Treasurer

8. Erick Russell, Connecticut Treasurer

9. Elizabeth Steiner, Oregon State Treasurer 

10. David L. Young, Colorado State Treasurer

To book an interview with Americans for Responsible Growth Executive Director Dave Wallack or connect with an officer who signed today’s letter, please email press@focalpointstrategygroup.com.