The United States Bipartisan Policy Center expects the deadline for the US debt ceiling to be delayed until August to October.
The Bipartisan Policy Center in the United States has postponed its prediction of the day when federal government funding will run out, with the latest forecast suggesting that if Congress fails to suspend or raise the debt limit, the so-called "X day" will fall between August and early October. X day is the day when the U.S. Treasury Department is unable to pay all government bills on time. The think tank, based in Washington, had previously predicted this two months earlier than the latest forecast. This update is based on the latest income and expenditure data from the Treasury Department. "There was indeed a significant risk that tax season could result in much lower revenues than expected, leading to a potential arrival of 'X day' as early as June," said Shai Akabas, Vice President of Economic Policy at the center, in a press conference held before the latest release on Monday, "However, that worst-case scenario did not materialize." The center stated in a press release that April tax revenues exceeded expectations, providing short-term support to the Treasury Department's cash balance and significantly reducing the threat of "X day" arriving in June or July.
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