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Treasury Chief to Congress: Raise Debt Limit Before August

Treasury Secretary Steven Mnuchin told lawmakers on Wednesday that they should vote to increase the government's borrowing authority — and avert a disastrous economic default — before their August recess. Within hours, the conservative House Freedom Caucus said it would oppose such a vote unless certain conditions are met. The timeline is earlier than previous estimates. It had been expected that Congress wouldn't have to act on the politically painful measure until sometime...

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