Treasury Secretary Steven Mnuchin asked Congress to raise the debt limit before the summer recess when testifying to Capitol Hill on Wednesday. The government debt is nearly $20 trillion and hit Congress’s self-imposed ceiling in March. Many Republicans oppose raising the debt limit. The Freedom Caucus has stated it will not support an increase unless measures are taken to reduce overall spending. Budget Director Mick Mulvaney has requested that a clean debt-ceiling increase be passed, without any conditions.
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