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US Debt Ceiling Concerns Loom as Treasury Awaits Tax Receipts
US Debt Ceiling Concerns Loom as Treasury Awaits Tax Receipts
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Treasury Secretary Scott Bessent warned lawmakers that the US debt ceiling is already ’on the warning track,’ with a fresh estimate on the government’s cash runway expected soon. The Treasury is still processing a flood of annual tax payments received around the April 15 deadline, which will determine the critical ’X-date’—the day the US exhausts its ability to pay bills through extraordinary measures.
Republican leaders have tied their sweeping legislative package—encompassing tax cuts, border security, and energy policy—to a debt-limit increase. The GOP plans to force the bill through the House without Democratic support before the X-date arrives, setting the stage for a high-stakes fiscal showdown.
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