The administration hasn’t clearly signaled the impact of weak tax revenue. Mulvaney, in a hearing in the House on May 24, said that the Treasury Department’s initial assessment showed it would run out of money in “early September." That date has "moved a couple of weeks in advance" because of slower-than-expected receipts.
Mulvaney stands by the remarks, Office of Management and Budget spokeswoman Meghan Burris said Tuesday in an email.
Mnuchin “has been consistent and clear in urging Congress to act as soon as possible to raise the statutory debt limit,” Treasury spokesman Tony Sayegh said.
This article was provided by Bloomberg News.