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Debt Limit May Not Be Increased Until October, Chuck Grassley Says
Bloomberg: Senate Finance Chairman Chuck Grassley said Monday that Congress probably won’t raise the federal debt limit until at least this summer, and possibly not until Oct. 1.
The debt limit comes back into effect March 1 after being suspended by Congress, but the Treasury Department can use so-called extraordinary measures to prevent a default on payments for months beyond that. Grassley’s committee has jurisdiction over the debt limit.
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