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For about 48 hours last week, it looked like a debt ceiling fight in 2025 would be averted, as ideas were floated to postpone the issue until 2027 or 2029 (or even forever). But it was not to be.
GOP leaders in the House last month floated an idea to raise the debt limit by $1.5 trillion in 2025 as part of a first reconciliation package, which may include border security and energy ...
Treasury Secretary Janet Yellen said Friday the projected debt ceiling deadline is extended to June 5, four days later than previously estimated. ... and lift the legal borrowing limit past next ...
From October 17, 2013 until February 7, 2014, the debt ceiling was again suspended. On February 12, 2014, the Temporary Debt Limit Extension Act was passed, suspending the debt ceiling until March 15, 2015. At that time, the Treasury Department took extraordinary measures. [49] The debt ceiling would again have been reached on November 3, 2015.
The debt limit is suspended until January 1, 2025. Discretionary spending is capped during fiscal years 2024 and 2025. All unused funds appropriated during the COVID-19 pandemic are rescinded. $1.4 billion of the $80 billion [104] of additional funding for the Internal Revenue Service provided by the Inflation Reduction Act of 2022 is rescinded.
The US last dealt with a debt ceiling crisis in early 2023, when it hit its $31.4 trillion debt limit. After months of contentious negotiations between the GOP-led House and the Democrats who ...
The debt ceiling is routinely raised to accommodate repayment of the country’s debt. The last time it was raised was in 2021. The debt ceiling was suspended last June.
It also would have extended the country’s debt limit through Jan. 30, 2027, in response to a key, eleventh-hour request from Trump. ... to extend the debt limit, months ahead of a deadline to ...