After hitting the $31.4 trillion borrowing cap on Jan. 19, Treasury Secretary Janet Yellen previously told Congress Treasury would keep up payments on debt, federal benefits and make other outlays at least through June 5 using cash receipts and extraordinary cash management measures. The new date reflects a more specific estimate, based on taxes collected during the April 2023 income tax filing season. (Reporting by David Lawder)
david.lawder.thomsonreuters.com@reuters.net)) WASHINGTON, May 1 (Reuters) - The U.S. Treasury
Department said Monday it now expects to be able to pay all U.S.
government obligations only through June 1 without a federal
debt limit increase, adding urgency to a bitter fiscal fight
between congressional Republicans and Democrats and the White
House.
U.S. Treasury Secretary Janet Yellen said in a letter to
Congress that the agency will be unlikely to meet all U.S.
government payment obligations by "early June." The debt ceiling
could become binding by June 1, she said.
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