President Trump meets with Senate Majority Leader Mitch McConnell (R-Ky.), Senate Minority Leader Charles E. Schumer (D-N.Y.), House Minority Leader Nancy Pelosi (D-Calif.) and other congressional leaders in the Oval Office on Sept. 6. McConnell explained that he pushed for retaining the Treasury Department’s ability to use “extraordinary measures” to avoid a more immediate need to raise the debt ceiling. It’s unclear how much flexibility they would have, but it is likely the debt ceiling would need to be addressed no later than the summer of 2018, based on past projections. Senate Minority Leader Charles E. Schumer’s office did not immediately comment. Trump and Schumer (D-N.Y.) also agreed last week to pursue a deal that would permanently eliminate the requirement that Congress repeatedly raise the debt ceiling.

Source: Washington Post September 12, 2017 03:52 UTC