The Secretary of the United States Treasury, Scott Besent, urged Congress to raise the federal government’s indebtedness limit for mid -Julyin order to avoid a cessation of payments that would disrupt world markets.
Besent told Congress leaders that there is a “reasonable probability” that the federal government is left without effective to cover its obligations in Augustwhen the members of the Congress are out of Washington.
“Therefore, he respectfully urges Congress to increase or suspend the debt limit in mid -July, before his scheduled pause, To protect full faith and credit from the United States, “Besent wrote in a letter.
