WASHINGTON, Oct 10 (Reuters) - A plan offered by U.S. Houseof Representatives Republicans to temporarily raise governmentborrowing authority would prohibit the Treasury Department fromusing "extraordinary measures" to continue borrowing once ithits up against the new limit, according to a senior HouseRepublican aide.
In mid-May, the Treasury bumped up against its $16.7trillion statutory debt limit but the agency has employed aseries of cash-management maneuvers to extend its borrowingcapacity by more than $260 billion. Treasury estimates that onOct. 17 it will exhaust all tools for borrowing.
- Budget, Tax & Economy
- Politics & Government
- extraordinary measures