Economics
Mnuchin Says Deal on Budget, Raising Debt Limit ‘Very Close’
- Leading proposal includes suspending debt limit for 2.5 years
- Pelosi optimistic, though details remain to be negotiated
This article is for subscribers only.
Treasury Secretary Steven Mnuchin said the Trump administration and congressional Democrats have agreed on spending levels for a budget deal that could clear the way for raising the federal debt limit before Congress leaves town.
Mnuchin also signaled that he’d settle for a short-term increase in the government’s borrowing limit if all the budget details can’t get worked out in time, though House Speaker Nancy Pelosi has indicated she’ll resist a temporary debt limit hike.