“After reviewing recent federal tax receipts, our best estimate is that we will be unable to continue to satisfy all of the government’s obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before that time,” Yellen wrote on Monday. hit the debt ceiling in January, the Treasury Department began implementing extraordinary measures to prevent the government from defaulting. The date is a shift from when Yellen initially told lawmakers it was unlikely the federal government would exhaust its extraordinary measures before early June.
could reach its borrowing limit as soon as June 1.
McConnell has not yet said whether he will attend the meeting.īiden invited the four congressional leaders to meet at the White House hours after Treasury Secretary Janet Yellen informed the top lawmakers the U.S. “McCarthy spoke to Biden and agreed to meet on the 9th,” the source familiar told The Hill.ĬNN was the first to report McCarthy accepted Biden’s invitation.
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