Mnuchin Warns Pelosi U.S. May Run Out of Cash in Early September
- Treasury secretary and House speaker spoke twice on Thursday
- House set to depart Washington for six-week recess on July 26
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Treasury Secretary Steven Mnuchin warned House Speaker Nancy Pelosi that the government may run out of cash in early September if Congress doesn’t raise U.S. borrowing authority.
“Based on updated projections, there is a scenario in which we run out of cash in early September, before Congress reconvenes,” Mnuchin said in a letter to Pelosi on Friday. “As such, I request that Congress increase the debt ceiling before Congress leaves for summer recess.”