Mnuchin: US can pay its bills through early September

Treasury Secretary Steven Mnuchin told a congressional panel yesterday the United States can pay its bills through early September.

He's hoping Congress will approve an increase in governmental borrowing before it leaves on a five-week break in August.

"If for whatever reason Congress does not act before August, we do have back-up plans that we can fund the government," Mnuchin said without elaborating.

Read more from The Associated Press.