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Treasury chief says Hurricane Harvey could impact debt ceiling date
August 31, 2017 / 4:11 PM / 22 days ago

Treasury chief says Hurricane Harvey could impact debt ceiling date

WASHINGTON, Aug 31 (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Thursday that the impact of Hurricane Harvey could bring forward the deadline by which the nation’s debt ceiling needs to be raised. “We obviously have now the hurricane spending, which is an issue. So that’s going to have some impact on our September spending,” Mnuchin said in a interview with broadcaster CNBC. “I think in terms of when it’s going to hit the debt ceiling, again I think there could be some impact of a couple of days.”

The U.S. government has a statutory limit on how much money it can borrow to cover the budget deficit that results from Washington spending more than it collects in taxes. Only Congress can raise that limit.

Mnuchin told lawmakers in July they needed to raise the debt limit by Sept 29, otherwise the U.S. government might not have enough money to pay all its bills.

Reporting by Lindsay Dunsmuir; Editing by Chizu Nomiyama; Editing by

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