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Congress

Debt limit talks pick up pace and tax credit bonanza

CQ Budget podcast, Episode 118

Speaker of the House Nancy Pelosi, D-Calif., is supporting congressional efforts to raise the debt limit before the summer recess. (Photo By Bill Clark/CQ Roll Call)
Speaker of the House Nancy Pelosi, D-Calif., is supporting congressional efforts to raise the debt limit before the summer recess. (Photo By Bill Clark/CQ Roll Call)
By David Lerman, Doug Sword and Jennifer Shutt
Posted July 15, 2019 at 3:59pm

With new warnings that the U.S. could run out of money to meet its obligations, Congress and the Trump administration are racing to raise the debt limit before lawmakers head home for August, says CQ Roll Call’s appropriations reporter Jennifer Shutt. And tax reporter Doug Sword explains how oil refiners could get up to a $10 billion windfall with an expired tax credit unless Congress intervenes.

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