The US Treasury secretary called on Congress to lift the ceiling on Americas public debt at the same time as it passes an aid package for the victims of tropical storm Harvey, warning that a failure to act would hold up funding for the relief effort.
Steven Mnuchin said a move on the debt ceiling should be tied to Harvey funding, arguing that if the US is unable to continue borrowing it will not be able to get money to help Texas rebuild.
The intervention comes as the disaster in Texas increases pressure on lawmakers to resolve the stand-off over public spending and debt negotiations. Before the storm struck, policymakers feared discussions over lifting the debt ceiling from its current $19.8tn level could go down to the wire, wi…
Read the full article at: https://www.ft.com/content/159d373c-90bf-11e7-a9e6-11d2f0ebb7f0