Treasury Secretary Scott Bessent on Friday urged Congress to raise the debt ceiling by mid-July “to protect the full faith and credit of the United States.”
“After receiving receipts for the recent April tax filing season, there is a reasonable probability that the federal government’s cash and extraordinary measures will be exhausted in August while Congress is scheduled to be in recess,” Bessent wrote in a letter to House Speaker Mike Johnson, R-La.
“Therefore, I respectfully urge Congress to increase or suspend the debt limit by mid-July, before its scheduled break, to protect the full faith and credit of the United States.”
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