U.S. House debt limit plan to bar Treasury 'extraordinary' moves
WASHINGTON Oct 10 (Reuters) - A plan offered by U.S. House of Representatives Republicans to temporarily raise government borrowing authority would prohibit the Treasury Department from using "extraordinary measures" to continue borrowing once it hits up against the new limit, according to a senior House Republican aide.
In mid-May, the Treasury bumped up against its $16.7 trillion statutory debt limit but the agency has employed a series of cash-management maneuvers to extend its borrowing capacity by more than $260 billion. Treasury estimates that on Oct. 17 it will exhaust all tools for borrowing.
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