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7/11/2019, 6:43 AM (Source: TeleTrader)
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Mnuchin wants Congress to raise debt ceiling before August

United States Treasury Secretary Steven Mnuchin intimated that he wants Congress to raise the government debt ceiling before the August recess. "Everybody knows that there's been some outside effort talking about the debt ceiling and that is something we are having discussions about... and potentially the need to do something before everybody leaves," he told reporters and added that "it would be my preference to see them pass something."

A round of budget talks with Democratic lawmakers ended without a deal last month, with senior Democrats stating that an agreement would be achieved more easily "without interference from the president." The current two-year budget is set to expire in September, and Mnuchin claimed US President Donald Trump wants to avoid another government shutdown. The Treasury secretary proposed a one-year debt ceiling hike if Congress cannot agree on the matter.

Breaking the News / DJ