Bond market braces for final debt-ceiling fight

Mnuchin Congress must tie Harvey aid to raising debt limit

Mnuchin: Congress Should Tie Harvey Disaster Aid To Debt Ceiling Increase; "Put Politics Aside"

"I feel a lot of Houston is drying out, and I don't want them to forget about us", she said. Mnuchin says he's not confident that Texas would quickly get the aid it needs without raising the debt limit. "I know that the wall is a huge priority to the president and we want to make sure that we get money for that".

Treasury Secretary Steven MnuchinSteven Terner MnuchinFormer "West Wing" star urges people to write "Harriet Tubman" on bill Texas lawmaker: Harvey may have "trillion-dollar impact" Mnuchin: More tax details coming shortly MORE said Sunday that he and President Trump believe the debt limit should be tied to Hurricane Harvey relief funding.

Some House conservatives have said directly pairing Harvey aid with an increase in the debt limit would be a "terrible idea" that sends the wrong message on overall government spending.

"Quite the contrary", Mr. Mnuchin told "Fox News Sunday". In the wake of Hurricane Harvey, however, Mnuchin told CNBC on Thursday that the deadline could move up a few days.

But Houston Mayor Sylvester Turner said his city was making progress on several fronts, resuming city services and helping get people into housing and out of emergency shelters.


"Our first priority is to make sure that the state gets money", Mnuchin also said Sunday.

Harvey, which first came ashore on August 25 as the most powerful hurricane to hit Texas in 50 years, has killed an estimated 47 people, displaced more than 1 million and damaged some 200,000 homes in a path of destruction stretching for more than 300 miles (480 kms). That's even as he and other members of the Republican leadership have reiterated that they will undoubtedly raise the debt ceiling.

Karen Waltmon, 58, who was returning to her home in one of the neighborhoods, said she wondered if parts of the city would have to be razed.

Mnuchin's spending-debt ceiling pitch resulted in a quick and favorable response from Congress's top two Democratic leaders. "Given the interplay between all the issues Congress must tackle in September, Democrats and Republicans must discuss all the issues together and come up with a bipartisan consensus", House Democratic Leader Nancy Pelosi and Senate Democratic Leader Chuck Schumer said in a joint statement.

So, if we - if Congress appropriates the money, but I don't have the ability to borrow more money and pay for it, we're not going to be able to get that money to the state. "But we'll be working with them on that". We're having to make decisions on what we do day by day.

Latest News