“After reviewing recent federal tax revenues, our best estimate is that we will not be able to continue meeting all government commitments by early June, and potentially as early as June 1, unless Congress raises or suspends the debt limit,” the Treasury Secretary said in a letter. USA Janet Yellen to Congress.
As a result, the Treasury has decided to suspend the issuance of series securities to state and local governments.
Shortly after receiving the letter, US President Joe Biden summoned four senior Congressional leaders to the White House. Biden called Republican House Speaker Kevin McCarthy in Jerusalem, where he is on a diplomatic trip, to invite him to a meeting at the White House on May 9.
Biden also extended invitations to House Democratic Leader Hakeem Jeffreys, Senate Majority Leader Chuck Schumer and Republican Leader Mitch McConnell.
Today, the US national debt threshold is $31.4 trillion. The Biden administration is calling on Congress to boost it. Republicans who control the House of Representatives are skeptical of the proposal and are pushing for spending cuts.
2023-05-02 03:18:38
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