May 24, 2017 / 6:53 PM / 2 months ago

U.S. Treasury's Mnuchin urges 'clean' debt ceiling hike by August break

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WASHINGTON, May 24 (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Wednesday urged Congress to approve a "clean" increase in the federal debt limit by the time it starts its summer recess in early August.

"I urge you to raise the debt limit before you leave for the summer," Mnuchin told the House Ways and Means Committee. Congress and the administration can discuss future spending cuts, but it was "absolutely critical" to preserve U.S. creditworthiness by paying debts already incurred, he said. (Reporting by David Lawder; Editing by Phil Berlowitz)

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