Key House Republican Warns May Debt-Ceiling Breach Possible
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A key House Republican projected Wednesday that the US could hit the debt ceiling as soon as mid-May, several months sooner than most analysts project.
The market-rattling date hinges largely on tax revenue — and, if the US collects less than expected this tax season, the borrowing limit could be just over two months away, said Representative Jason Smith, the chairman of the House’s tax-writing committee.