US tax inflows hint that Treasury Department can avoid default until late July – Goldman Sachs – by anilpanchal7 UnitedStates FiscalPolicy Banks RiskAversion
With the latest tax receipt numbers from the US being impressive, Goldman Sachs raises expectations that the US Treasury Department can avoid the risk of a federal payments default until late June.
If the remaining receipts stay on this trend, the Treasury should be able to continue to make all scheduled payments until the end of July without an increase in the debt limit. The bill’s passage is likely to put weight behind Republican insistence that the White House and congressional Democrats engage in negotiations on policy changes to accompany a debt limit increase.In our view, the most likely policy to accompany a debt limit increase is a cap on discretionary spending that’s less than the House GOP plan.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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