Mnuchin asks House to raise debt ceiling before recess

|By:, SA News Editor

U.S. Treasury Secretary Steven Mnuchin is urging Congress to boost the country's debt ceiling before its summer recess in August.

In a letter to House Speaker Nancy Pelosi, Mnuchin said updated projections show that "there is a scenario in which we run out of cash in early September, before Congress reconvenes."

The House of Representatives is in session until July 26 and the Senate until Aug. 2; both houses return from their summer recess on Sept. 9.

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