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United States Treasury Secretary Scott Bessent told Congress leaders on Friday, 9, that there is a “reasonable probability” that the federal government is out of money to cover its obligations in August if Congress does not act, asking for legislators who address the debt limit until mid-July.
“I respectfully ask Congress to increase or suspend the debt limit until mid -July, before its scheduled recess, to protect full faith and credit from the United States,” Bessent wrote in a letter to Mayor Mike Johnson.
