The United States is expected to reach a new debt limit between January 14-23, the Secretary of the Treasury, Janet Yellen, said on Friday.
According to Yellen, the Treasury does not expect to start taking extraordinary measures on January 2, as the outstanding debt subject to the limit is projected to decrease by approximately $54 billion.
"Treasury currently expects to reach the new limit between January 14 and January 23, at which time it will be necessary for Treasury to start taking extraordinary measures," Yellen said in a letter to all members of Congressional leadership.
She urged lawmakers to take measures to prevent the US from defaulting on its obligations.
"I respectfully urge Congress to act to protect the full faith and credit of the United States," Yellen added.