Funds for Harvey victims may be delayed without debt limit increase: Mnuchin

Funds for Harvey victims may be delayed without debt limit increase: Mnuchin

Treasury Secretary Steve Mnuchin said the administration wants Congress to attach the aid funds to a bill that would increase the federal debt limit without any spending cuts.

Houston Mayor Sylvester Turner said the city expected most public services and businesses to be restored by Tuesday, the first day after Monday's Labor Day holiday.

Now that the debt ceiling needs to be raised again, President Trump has signaled that he doesn't want a messy fight over it. However, the realization that recovery efforts could cost as much as $190 billion has resulted in White House concerns about having enough ready cash.

"The president and I believe that it should be tied to the Harvey funding", Mnuchin told Chris Wallace on Fox News Sunday.

Trump is asking for at least $7.9 billion in disaster relief.

The United States is scheduled to reach its debt limit by the end of the month unless Congress raises the ceiling. In the wake of Hurricane Harvey, however, Mnuchin told CNBC on Thursday that the deadline could move up a few days.

Congress has an enormous to-do list in September, and raising the debt ceiling or debt limit - the cap on the total amount of debt the federal government can issue to pay for spending - is at the top of that list. We need to help the people in Texas, and we need to get that done.

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Trump in recent weeks suggested that he'd "close down" the government if the resolution doesn't include money for his campaign-promised U.S. -Mexico border wall.

US Treasury Secretary Steven Mnuchin said he is putting together new sanctions seeking to cut off trade with North Korea after it detonated a thermonuclear device in its sixth and most powerful nuclear test. "It is critical and to do that, we need to make sure we raise the debt limit".

Harvey, which first came ashore on August 25 as the most powerful hurricane to hit Texas in 50 years, has killed an estimated 47 people, displaced more than 1 million and damaged some 200,000 homes in a path of destruction stretching for more than 300 miles (480 kms).

"This is where we come to the part where Congress plays a role". "So that's what we're focused on this week, and we'll be meeting with leadership of both parties to work on that".

Congress will also upon its return begin working on Trump's plan to overhaul the federal tax code.

"That's one way to do it", Blunt said on NBC's "Meet the Press".

So, if we - if Congress appropriates the money, but I don't have the ability to borrow more money and pay for it, we're not going to be able to get that money to the state.

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