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Yellen extends U.S. default deadline to Dec. 15 after highway payment

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Reuters

By David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Tuesday extended a deadline for a potential U.S. government default to Dec. 15 from Dec. 3, giving Congress more time to raise the federal debt ceiling as lawmakers also consider a massive social spending and climate bill. Yellen said in a letter to congressional leaders that the adjustment was “based on our most recent information,” a reference to Treasury tax collections and cash flow data. She said the Treasury would be able to make a $118 billion transfer to the Highway Trust Fund required on Dec. 15, a month aft…

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