The U.S. government will begin using “extraordinary measures” on Tuesday, Jan. 21, to avoid hitting the debt limit, outgoing Treasury Secretary Janet Yellen said today in a letter to House Speaker Mike Johnson.
“The period of time that extraordinary measures may last is subject to considerable uncertainty, including the challenges of forecasting the payments and receipts of the U.S. Government months into the future,” Yellen wrote.
President-elect Trump will be sworn into office on Monday. He has called on Congress to lift the debt ceiling, but so far lawmakers have proven hesitant to do so. Congress is currently in session.