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U.S. Can Fund Government Through Early to Mid-October, CBO Says

  • Revenue, spending over next few months could alter timeline
  • Mnuchin wants Congress to lift cap before summer break
The U.S. Capitol building, from right, Washington Monument and Lincoln Memorial stand in Washington, D.C.
Photographer: Andrew Harrer/Bloomberg

The U.S. Treasury can fund the government through early to mid-October under the current borrowing limit, the Congressional Budget Office said, giving lawmakers leeway to wait until after their summer recess to increase the debt cap despite pressure from the Trump administration to act sooner.

“However, the timing and magnitude of revenues and outlays over the next few months could vary noticeably from CBO’s projections, so those measures could be exhausted and the Treasury could run out of cash earlier or later than CBO projects,” the Washington-based organization said Thursday in a report.