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Axios
Axios
Politics

Biden administration warns House GOP about debt ceiling deadlines

United States Janet Yellen

The U.S. government will reach its debt limit on Jan. 19 and initiate so-called "extraordinary measures" to avoid default, Treasury Secretary Janet Yellen told House Speaker Kevin McCarthy in a letter Friday.

Why it matters: House Republicans are interested in using debt ceiling negotiations to cut spending, but Yellen said Treasury's extraordinary measures could last until the summer.

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