Skip to content
Subscriber Only

Treasury Asked Congress to Raise Debt Limit by Feb. 28, Sources Say

  • Mnuchin started using extraordinary measures since Dec. 8
  • Congress seeking debt limit measure tied with spending bill
Bloomberg business news
Barclays' Golhar Says Government Shutdown Unlikely

U.S. Treasury Secretary Steven Mnuchin has asked Republican congressional leaders to raise the government’s borrowing authority by the end of February, according to two people familiar with the matter.

The U.S. debt limit was suspended in September until Dec. 8. Mnuchin began using special accounting measures to stay below the ceiling since then and has said that Treasury could comfortably fund the government at least through January. The Congressional Budget Office estimated in November that the government won’t face a potential default until March or early April.