Biden enlists big bank CEOs, AARP in push to raise debt ceiling 12 days before deadline
President Joe Biden will on Wednesday escalate his call for Congress to address the debt ceiling in a meeting with some of Wall Street's top CEOs.
Biden is expected to ask the private sector to keep pressure on Republicans to back off their threat to filibuster a bill proposed via regular Senate procedure. The White House meeting, which will include a mix of virtual and in-person attendees, marks a new level of urgency in the administration's efforts to avoid what economists see as guaranteed economic turmoil. Congress has only 12 days—until October 18—to suspend or lift the debt limit before the U.S. defaults on its debt for the first time ever, according to Treasury Department estimates.
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