Bessent Says US on Debt-Limit ‘Warning Track,’ But No Timing Yet
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Treasury Secretary Scott Bessent repeated his warning that his department is on the “warning track” toward exhausting its capacity to stay within the federal debt limit, while refraining from offering a specific timeframe on Tuesday.
“We will share with Congress when we believe we are” approaching the so-called X-date, when Treasury will be unable to pay all of the government’s bills on time, Bessent said in answering questions at the House Appropriations Committee. He said the Treasury is still tallying tax revenue from the latest filing season.