{"id":17679,"date":"2023-06-03T10:47:43","date_gmt":"2023-06-03T14:47:43","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/biden-could-sign-debt-limit-bill-as-soon-as-saturday\/"},"modified":"2023-06-03T10:47:44","modified_gmt":"2023-06-03T14:47:44","slug":"biden-could-sign-debt-limit-bill-as-soon-as-saturday","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=17679","title":{"rendered":"Biden Could Sign Debt-Limit Bill as Soon as Saturday"},"content":{"rendered":"
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&copy Bloomberg. WASHINGTON, DC – MAY 31: U.S. President Joe Biden speaks during a meeting with leaders of federal emergency preparedness and response teams in the Roosevelt Room of the White House May 31, 2023 in Washington, DC. Biden received a briefing on the state of extreme weather preparedness during the meeting. (Photo by Win McNamee\/Getty Images)<\/span>
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(Bloomberg) — President Joe Biden could sign a bill suspending the debt ceiling as soon as Saturday, his press secretary said, with the Treasury Department signaling that\u2019s enough time to avoid running out of cash.<\/p>\n

The bill is in the process of being formally delivered to the president but that won\u2019t happen before an Oval Office address Friday evening, Press Secretary Karine Jean-Pierre said.<\/p>\n

\u201cSo it won\u2019t be today. The House and the Senate have to do their business. And so we\u2019re going to work very quickly with them to get this done to make sure we can sign it, hopefully as soon as tomorrow,\u201d Jean-Pierre told reporters Friday when asked when Biden might sign the measure.\u00a0<\/p>\n

The Senate late Thursday cleared for Biden\u2019s signature legislation to suspend the US debt ceiling and impose restraints on government spending through the 2024 election, ending a drama that threatened the first-ever US default and a resulting global financial crisis.<\/p>\n

Bills have to go through the formal step of being enrolled once both chambers of Congress pass them and before they can be signed by the president. Biden has pledged to sign the measure as soon as he receives it.<\/p>\n

While Treasury Secretary Janet Yellen has said the department is set to run out of money as soon as Monday, the department signaled Friday that a weekend signing would be enough time to keep payments flowing. \u00a0<\/p>\n

\u201cNow that Congress has acted to suspend the debt limit, Treasury has the tools needed to ensure that the US continues to meet all of our obligations,\u201d Treasury Spokesperson Chris Hayden said in a written statement.<\/p>\n

Asked if the bill would be signed in time for Treasury to keep making payments, Jean-Pierre said the White House is \u201cconfident.\u201d<\/p>\n

\u201cWe are not nervous,\u201d she said. \u201cWe\u2019re going to get this done, certainly before June 5.\u201d<\/p>\n

\u201cJune 5 is on Monday, so he wants to get to to it as soon as possible,\u201d she added.\u00a0<\/p>\n

Biden is poised to deliver an Oval Office address to Americans at 7 pm on Friday.\u00a0<\/p>\n

\u201cThere is a gravity, as you all can imagine, of this moment, so the president wanted to make sure he addressed the American people directly,\u201d Jean-Pierre said Friday.\u00a0<\/p>\n

Read more: Debt-Limit Deal Clears Congress, Ending Threat of US Default\u00a0<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

&copy Bloomberg. WASHINGTON, DC – MAY 31: U.S. President Joe Biden speaks during a meeting with leaders of federal emergency preparedness and response teams in the Roosevelt Room of the White House May 31, 2023 in Washington, DC. Biden received a briefing on the state of extreme weather preparedness during the meeting. (Photo by Win […]<\/p>\n","protected":false},"author":1,"featured_media":4722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-17679","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nBiden Could Sign Debt-Limit Bill as Soon as Saturday | iFintechWorld<\/title>\n<meta name=\"description\" content=\"&copy Bloomberg. 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