Bessent urges Congress to act on debt limit by mid-July

May 10, 2025 - 01:01
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Bessent urges Congress to act on debt limit by mid-July
Treasury Secretary Scott Bessent called on Congress Friday to raise the nation’s debt ceiling by mid-July to keep the federal government from defaulting on its more than $36 trillion debt. In a letter to Speaker Mike Johnson (R-La.), Bessent said there is “reasonable probability” that the government’s “cash and extraordinary measures will be exhausted in…

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