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Treasury to Begin Extraordinary Measures to Pay Bills Amid Debt-Ceiling Debate
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The Treasury Department is set to begin taking special measures to keep paying the government’s bills on Thursday as the divided Congress braces for a potentially lengthy and difficult debate over raising the debt ceiling.
With the federal government about to run up against the debt limit, which Congress set at roughly $31.4 trillion in 2021, the Treasury Department has said it expects to start deploying so-called extraordinary measures. Those accounting maneuvers, which include suspending investments for certain government accounts, will allow the Treasury to keep paying obligations to bondholders, Social Security recipients and others until at least early June, the department said last week.
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