WASHINGTON (Sputnik) — The Trump administration has asked the US Congress to raise the national debt limit, Secretary of the Treasury Steven Mnuchin said in a letter to Speaker of the US House of Representatives Paul Ryan on Thursday.
"Beginning on Thursday, March 16, 2017, the outstanding debt of the United States will be at the statutory limit," Mnuchin wrote. "I encourage Congress to raise the debt limit at the first opportunity so that we can proceed with our joint priorities."
Steven Mnuchin also noted that the US government is suspending the sale of local and state government securities when the national debt reaches its legal limit on March 15.
"Today, Treasury is announcing that it will suspend the sale of State and Local Government Series (SLGS) securities," Mnuchin wrote. "The suspension of SLGS sales will commence on March 15, 2017 and continue until the debt level is raised or suspended. As in the past, it is likely Treasury will utilize additional extraordinary measures."
