US Could Hit Debt Limit in August, Bessent Says

The treasury secretary urged Congress to raise the debt limit by mid-July before it goes into recess.

Treasury Secretary Scott Bessent speaks to reporters during a briefing at the White House on April 29, 2025. Travis Gillmore/The Epoch Times

The federal government is likely to exceed its statutory debt limit in August, when Congress is slated for a recess, according to Treasury Secretary Scott Bessent.

The timing of the so-called X date is likely to place added pressure on Congress to pass a much-anticipated sweeping policy bill within the next few weeks, which is expected to provide an increase in the borrowing limit and advance key parts of President Donald Trump’s agenda, including tax cut, border, and energy measures.