Mnuchin has said the federal government could pass its borrowing authority in early September — possibly before Congress returns from summer break, if no deal is made
House Speaker Nancy Pelosi suggested on Tuesday that she and Treasury Secretary Steven Mnuchin may be within striking distance of a two-year agreement to avoid billions in automatic spending cuts and a default on the nation’s debt.
Pelosi's comments to reporters — just hours after she said she was "hopeful" for a deal by next week — come amid a flurry of negotiations with Mnuchin, who has led the talks for Republicans, over the last week. “I'm hopeful that that can happen,“ the Maryland Democrat told reporters during his weekly pen-and-pad briefing, adding that Pelosi briefed him on the state of talks Monday night.The House and Senate have just seven days in session before lawmakers are set to leave for August recess on July 26, though the Senate is scheduled to be in session for an additional week.
Hoyer also reiterated that Democrats are opposed to a short-term deal to lift the debt ceiling without a broader agreement to avert billions in spending cuts.
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