- The Washington Times - Wednesday, July 26, 2017

Treasury Secretary Steven Mnuchin on Wednesday said the United States has enough wiggle room to pay its bills through September, but again urged Congress to act on raising the debt ceiling before breaking for August recess.

“Based upon our best estimate at the time, we do have funding through September, but I have urged Congress to take this up before they leave for the recess,” Mr. Mnuchin told senators, testifying before an appropriations subcommittee.

Mr. Mnuchin said there are both tangible costs and the “implied” cost of uncertainty associated with the extraordinary measures the Treasury Department uses to prevent the U.S. from bumping up against the limit.

Last month, the Congressional Budget Office estimated that treasury would likely be able to continue borrowing and paying the country’s bills up until early to mid-October.

The House is scheduled to go on a five-week break after this week, though leaders have said they’ll keep a close eye on what the Senate does on health care and could call members back if the Senate approves a bill.

Earlier this month, Senate Majority Leader Mitch McConnell said the Senate would be staying in session an additional two weeks before starting their summer break.

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