Mnuchin Invokes Special Debt Measures to Last Until June 5
- To divert money from federal civil service retirement fund
- U.S. debt limit resumed March 1 after being suspended
Steven Mnuchin
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Treasury Secretary Steven Mnuchin invoked special accounting measures through June 5 to continue paying the U.S. government’s bills without breaching the legal debt ceiling.
The U.S. debt limit resumed March 1 after being suspended by Congress, but the Treasury Department can use so-called extraordinary measures to prevent a default on payments for months beyond that. Mnuchin notified Congress on Monday that he is using such measures to redirect money from the federal civil service’s retirement fund.