Congress controls how much money the United States can borrow. Here’s a look at why that is and what it means.
Tag: Treasury Department
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Is the Debt Limit Constitutional? Biden Aides Are Debating It.
As the government heads toward a possible default on its debt as soon as next month, officials are entertaining a legal theory that previous administrations ruled out.
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U.S. Could Run Out of Cash by June 1, Yellen Warns
Janet L. Yellen, the Treasury secretary, called on Congress to raise or suspend the debt limit so the United States could continue paying its bills.
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Trickling Tax Revenue Complicates Debt Limit Talks
The Treasury Department’s ability to delay a default, the so-called X-date, hinges on how fast the money is coming in.
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U.K. Watchdog Blocks Microsoft’s Bid to Buy Activision
The British antitrust watchdog blocked the takeover attempt, in a decision that will be closely watched in Washington and Brussels.