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Treasury’s Lew says US can still steal by late October

WASHINGTON U.S. Treasury Secretary Jack Lew on Thursday confirmed his foresee that U.S. borrowing ability would final during slightest until late October, and combined that a Treasury’s money change would temporarily arise with Sept. 15 taxation payments.

In a minute to U.S. congressional leaders, Lew urged them to lift a debt extent as shortly as probable to equivocate nonessential risks to financial markets, to business and consumer confidence, and a U.S. credit rating.

“On Jul 29, we wrote to surprise we that a unusual measures we have been contracting to safety borrowing ability would not be tired before late October, and that they likely

would final for during slightest a brief additional duration of time. That continues to be a view, formed on a best and many new information,” Lew wrote.

Lew pronounced a Treasury might again accommodate a idea of progressing a $150 billion money change quickly in mid-September.

“We expect that it will arise temporarily after a Sep 15 deadline for corporate and particular taxation receipts-possibly above $150 billion-and afterwards will decrease again,” he wrote.

(Reporting by David Lawder; Editing by Sandra Maler)

Article source: http://in.reuters.com/article/2015/09/10/usa-debt-limit-idINKCN0RA2N620150910

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