Goldman Says Big Tax Haul Means Debt-Limit Deadline in July
- Goldman had cautioned that June was a rising possibility
- House on Wednesday passed debt-limit bill opposed by Biden
Outside the Goldman Sachs headquarters in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
A sudden acceleration in US tax inflows has reduced the likelihood of the Treasury Department being at risk of a federal payments default as soon as June, according to Goldman Sachs Group Inc.
The Wall Street bank last week had warned that anemic revenues were raising the danger of pulling forward the point at which the US government will exhaust its borrowing authority under the federal debt ceiling. But data on tax receipts for Tuesday — when paper checks for federal tax payments were coming in — were unexpectedly large, outpacing the comparable 2022 day by 14%, according to Goldman.