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SKU: IN10837_2019-02-27.pdf Categories: , Tag:

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Author: Grant A. Driessen, Analyst in Public Finance

Release Date: 2/27/2019

Number of Pages:  4

Price: $5.99


Following a period of suspension, the statutory debt limit is scheduled to be reinstated on March 1, 2019, at a level that precisely accommodates the federal borrowing undertaken to date. When federal borrowing approaches the debt limit, the Treasury Secretary has the authority to implement “extraordinary measures” that delay when the debt limit will bind. Extraordinary measures were last implemented from March 2017 through September 2017 and from December 2017 through February 2018, until passage of the Bipartisan Budget Act of 2018 (BBA 2018; P.L. 115-123; February 9, 2018) suspended the statutory debt limit until March 1, 2019. This Insight briefly examines the use of extraordinary measures and its subsequent effects on federal debt activity.