Trump Urges Extension of U.S. Debt Ceiling to Avert Default

President-elect Donald Trump has called for an extension of the U.S. debt ceiling to prevent a federal default. The Treasury Department has been using extraordinary measures since the last suspension expired. Trump prefers legislative action soon and considers options for Congressional Republicans.

In a recent statement made at his Florida resort, President-elect Donald Trump emphasized the urgency of extending the U.S. debt ceiling to prevent a government default, with national debt currently exceeding $36 trillion.

Trump's remarks come as the last congressional suspension of the debt ceiling expired in 2023. The Treasury Department is utilizing extraordinary measures to avert a default, but these are only temporary fixes. Congress will need to address the debt ceiling by mid-year to avoid a financial crisis.

House Republicans, faced with a split in strategies, plan to forge ahead with a single reconciliation bill, as announced by No. 2 Republican Steve Scalise, aiming to expand border security and tax cuts. Scalise noted the possibility of splitting the legislation, should Trump prefer that approach, highlighting ongoing deliberations among party members.

(With inputs from agencies.)