Economics
U.S. May Top Debt Limit Sooner Than Forecast, Forcing Congress’s Hand
- Policy group says Treasury may run out of options by September
- U.S. has used extraordinary measures for payments since March
Photographer: Andrew Harrer/Bloomberg
This article is for subscribers only.
Congress has been acting like it has months to raise the U.S. debt limit, but lower tax revenue projections mean lawmakers could face a tighter deadline, according to an independent policy group.
The Bipartisan Policy Center said Monday there is a “significant risk” that the U.S. will breach its debt limit in early September unless Congress acts. The group’s evaluation marked a revision from its previous forecast of an October to November date at which the U.S. will default on payment obligations.