Treasury extends debt ceiling deadline to December 15
Democrats gifted 12 days for Christmas: Treasury announces government could run out of money on December 15 - not December 3 - giving Congress more time to extend the debt ceiling long term Treasury Secretary Janet Yellen gifted Congressional Democrats 12 additional days in December to pass legislation to lift the debt ceiling The original deadline was December 3 Yellen told House Speaker Nancy Pelosi that she was able to 'further refine that projection' believing the new date would be December 15 After that, the Treasury Department would be left with 'insufficient remaining resources,' Yellen said The new date gives the Democratic majority more time to pass President Joe Biden's $1.75 trillion Build Back Better and work on a debt ceiling bill In October, the Senate voted to temporarily raise the debt limit by $480 billion after hatching a deal with Senate Minority Leader Mitch McConnell
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Treasury Secretary Janet Yellen gifted Congressional Democrats 12 additional days in December to pass legislation to lift the debt ceiling.
In a letter to House Speaker Nancy Pelosi, Yellen noted how she originally believed the government would be able to pay its bills through December 3, but was able to 'further refine that projection,' believing the new date would be December 15.
After that, the Treasury Department would be left with 'insufficient remaining resources,' Yellen said.
Treasury Secretary Janet Yellen gifted Congressional Democrats 12 additional days in December to pass
