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Treasury Dept asks Congress to raise debt ceiling before summer recess

Steven Mnuchin, Secretary of the Treasury of america of America, throughout a G-20 assembly on June 08, 2019 in Fukuoka, Japan.

Florian Gaertner | Photothek | Getty Photos

The Treasury Division stated it may run out of money by early September, asking Congress to extend the debt ceiling earlier than the summer season recess.

Pricey Madam Speaker:

Since there’s a affordable uncertainty in projecting authorities money flows, it’s not possible to determine exactly how lengthy extraordinary measures will final. We mannequin varied situations for our money projections. Primarily based on up to date projections, there’s a state of affairs during which we run out of money in early September, earlier than Congress reconvenes.

As such, I request that Congress enhance the debt ceiling earlier than Congress leaves for summer season recess.

Sincerely,

Steven T. Mnuchin

This can be a growing story. Examine again for updates.

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