US debt ceiling deadline could be as soon as June 1, Treasury warns
Headline from WFAA Dallas
In a letter Monday to House and Senate leaders, Yellen urged Congress “to protect the full faith and credit of the United States by acting as soon as possible.”
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In a letter Monday to House and Senate leaders, Yellen urged Congress “to protect the full faith and credit of the United States by acting as soon as possible.”
WASHINGTON — Treasury Secretary Janet Yellen on Monday warned that the United States may run out of measures to pay its debt obligations by June 1, earlier than the government and Wall Street had been expecting.
The US is projected to reach its debt limit as early as June 1, if Congress does not raise or suspend the debt limit before then, Janet Yellen told lawmakers on Monday.
President Joe Biden wants the cap raised without negotiation. The House Republican majority has most recently passed a bill to secure spending cuts in exchange for a debt limit increase.
Treasury Secretary Janet Yellen told Congress that the U.S. could reach its debt limit by June 1, if the body does not raise or suspend the debt limit by then.
Treasury Secretary Janet Yellen warned lawmakers that unless the debt ceiling is raised soon, the federal government may not have enough money to pay its bills as early as June 1.
Treasury Secretary Janet Yellen told Congress on Monday that the deadline "could be a number of weeks later." But the narrowing window puts new pressure on lawmakers.
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