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Debt ceiling fix could last until August


Monday, January 28, 2013

The next deadline for raising the nation’s borrowing limit may not come until August if the Senate passes the House-approved debt ceiling bill this week as scheduled, according to Capitol Hill sources.

Treasury Department officials have privately advised Senate Democrats that the House bill, which suspends the debt ceiling until May 19, can be extended through July thanks to “extraordinary measures” used by the agency to avoid a default, the sources said…

The Treasury Dept. estimate is in line with a prediction made by the Bipartisan Policy Center, a non-partisan think tank. The organization had cautioned that unless the House bill were taken up the Senate before Feb. 1, it could shorten the deadline for boosting the debt ceiling, but Treasury officials do not believe that to be the case.

2013-01-28 00:00:00