'Now that Congress has acted to suspend the debt limit, Treasury has the tools needed to ensure that the US continues to meet all of our obligations,' a US Treasury spokesperson says.
“Now that Congress has acted to suspend the debt limit, Treasury has the tools needed to ensure that the US continues to meet all of our obligations,” Treasury spokesperson Christopher Hayden said in an emailed statement on Monday.had warned Congress that without a debt ceiling increase, Treasury would be unable to make an estimated $92 billion in payments and transfers this week, including a $36-billion adjustment to the Social Security and Medicare trust funds.
The Treasury on Friday, June 2, auctioned $15 billion worth of one-day cash management bills that settled on Monday and mature on Tuesday, June 6.on Saturday, June 3, the Treasury auctioned $61 billion in six-month bills and $68 billion in three-month bills that settle on Thursday, June 8. The debt ceiling suspension allows the Treasury to maintain its planned auction schedule for total borrowings of $726 billion in the April-June quarter. The plan assumes an end-June cash balance of $550 billion. The Treasury has said it expects to borrow $733 billion in the July-September quarter, for an end-September cash balance of $600 billion.
The Treasury’s cash balance as of Thursday, June 1, fell to just $22.9 billion – below the $54 billion on hand on August 2, 2011, when Congress also had narrowly avoided a debt ceiling default.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Junk food tax' has a chance in Congress, says SalcedaAlbay 2nd district Rep. Joey Salceda is pushing for a 'junk food tax' amid talks to implement a food stamps program. ManilaBulletin READ:
Read more »
Rep. Pimentel: CA confirms 597 appointees during 19th Congress’ 1st Regular SessionThe powerful Commission on Appointments confirmed a total of 597 presidential nominations and ad interim appointments in the first regular session of the 19th Congress, Surigao del Sur Rep. Johnny Pimentel, CA assistant minority leader, said
Read more »
OVP budget not wasted as it reached Filipinos – Duterte to CongressThe budget that Congress gave to the OVP in 2023 wasn’t wasted but put into various programs that benefited a lot of Filipinos, Vice President Sara Duterte said on Monday during her, “Pasidungog,” her annual recognition and awards program. |GabrielLaluINQ
Read more »
Serious errors committed in approving Maharlika bill – EscuderoICYMI: In its rush to pass legislation for the Maharlika Investment Fund, both houses of Congress committed serious procedural and substantial legal errors that may nullify the law from the start, Sen. Francis Escudero said.
Read more »
Escrow fund in seafarers’ bill anti-labor, says lawyer | Jovee Marie N. dela CruzA LAWYER said the escrow provision of the proposed magna carta law for seafarers pending in Congress is “undeniably unfair and not protection” to seafarers. In a statement, Atty. Dennis R. Gorecho, head of the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices, said the escrow provision of…
Read more »
Solon confident Marcos to sign bill writing off P57.5B in farmers’ debt | Butch FernandezSENATOR Cynthia A. Villar is banking on President Ferdinand R. Marcos Jr. to frontload signing into law a Congress-approved bill condoning loans of farmers and agrarian reform beneficiaries (ARBs). Villar said that Senate Bill (SB) 1850, to be known as the New Agrarian Emancipation Act, will benefit 610,054 ARBs. The…
Read more »