Jellen: Treasury resources are sufficient until December 3, maybe a little more

Get real time updates directly on you device, subscribe now.

US Treasury Secretary Janet Glenn is set to brief Congress “in a couple of days” on how much time its members have to approve or not to raise the federal debt ceiling before it runs out of cash. government.

“We may be able to get past December 3, we may have the resources, but not for long after that date,” Glenn said in an interview with National Public Radio and was filmed on Monday.

It is noted that the US Treasury Department has been using the so-called emergency measures since last month to avoid delays in payments. The ministry said earlier this month that it had used $ 182 billion of the roughly $ 369 billion in additional resources allocated through such measures.

Members of Congress approved a short-term increase in the debt ceiling last month, with the aim of giving enough room for the debate to coincide with the December 3 deadline for regular annual funding of federal government agencies. At the time, Glenn stressed that the legislation would allow the government to continue paying its bills until December 3rd. The dates are subject to change based on the expenditure and revenue flows of the Ministry of Finance.

“I will soon issue new instructions on what we have learned since then about how long they can last,” said Glenn.

Republicans are trying to force Democrats to raise the borrowing ceiling on their own, while Democrats insist on doing so with bipartisan support, as in the past.

Although Glenn has repeatedly called for a bipartisan vote on the debt limit, in recent weeks she has suggested to Democrats that they consider raising the limit on their own through a process that bypasses the Senate criterion and therefore the need for support. of the Republican Party.

.

Source From: Capital

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.