US debt ceiling reinstated, prompting challenges for Republicans ahead of Trump's inauguration

Politics

1 year ago

News sources:

Credited from: CNN

The **US debt ceiling** was reinstated on Thursday, presenting a significant challenge for **congressional Republicans** in 2025.
**President-elect Donald Trump** urges GOP lawmakers to address the ceiling before he takes office on **January 20**.
The current debt stands at nearly **$36.2 trillion** and is projected to reach the limit between **January 14 and 23**.
**Treasury Secretary Janet Yellen** will inform Congress when extraordinary measures are required to avoid a **potential default**.
GOP lawmakers face pressure from Trump, who wants immediate action on the issue, emphasizing the need for **spending cuts** alongside any debt ceiling increase.

For further details, please visit the original article here.