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Report: Treasury secretary Mnuchin asks Congress to lift debt ceiling by February 28

WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin has asked Republican leaders in Congress to lift the federal government’s debt ceiling by Feb. 28, Bloomberg News reported on Monday, citing two sources familiar with the talks.

The U.S. Treasury Department will exhaust all of its borrowing options and run dry of cash to pay its bills by late March or early April if Congress does not raise its borrowing authority by then, the nonpartisan Congressional Budget Office has said.

Writing by Susan Heavey

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Report: Treasury secretary Mnuchin asks Congress to lift debt ceiling by February 28