July 29, 2015 / 8:49 PM / 4 years ago

U.S. can stay under debt ceiling through at least late Oct: Treasury chief

U.S. Treasury Secretary Jack Lew speaks at U.S.-China Strategic and Economic Dialogue (S&ED) at the State Department in Washington June 23, 2015. REUTERS/Yuri Gripas

WASHINGTON (Reuters) - The U.S. federal government can stay below its legal limit on borrowing until at least late October and likely do so a little longer than that, Treasury Secretary Jack Lew said on Wednesday.

In a letter to the Republican Speaker of the House of the Representatives, John Boehner, Lew said the Treasury would continue to refrain from issuing debt related to government worker pension funds in order to buy the government time before it breaches its $18 trillion debt cap.

“We believe that the measures will not be exhausted before late October, and it is likely that they will last for at least a brief additional period of time,” Lew said.

Reporting by Jason Lange; Editing by Sandra Maler

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