US May Exhaust Debt-Ceiling Measures in Mid-August, CBO Says

The US government could run out of enough funds to meet its financial obligations in a timely manner between mid-August and the end of September, the Congressional Budget Office said Monday.

The updated estimate from the nonpartisan CBO pushes back the so-called X date by at least two weeks from what it previously projected in March. That potentially gives Congress additional runway to negotiate a deal to increase federal borrowing authority as part of President Donald Trump’s tax-cut package.