![]() To do that, the Treasury will need to raise cash. Now, Treasury will try to quickly get back to business as usual. Doing so helped the Treasury free up billions of dollars to delay a potential default. These measures included selling existing investments and suspending reinvestments of the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund. To pay its bills on time, Treasury has undergone a series of extraordinary measures to buy it more time in hopes that Congress takes action to suspend or raise the debt limit. Since the debt ceiling was breached in mid-January, the Treasury Department has not been able to borrow more money. President Joe Biden is expected to swiftly sign the bill into law to avert the United States’ first-ever default on its debt. In a vote on Thursday evening, the Senate approved a measure to suspend the nation’s debt limit through January 1, 2025. ![]() The faucets at the US Department of the Treasury are set to turn back on after nearly five months of frozen pipes.
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