Once again, Congress faces a tight deadline on the national credit limit in January — currently $36.1 trillion — possibly before Donald Trump takes office. With thin Republican margins in both the House and the Senate and intraparty discord, it isn’t clear whether the government can avoid a clash, according to Fitch Ratings.
“The U.S. faces significant fiscal policy challenges in 2025 relating to the debt limit, appropriations, and tax cuts in the context of already large deficits and an increasing debt burden,” wrote the firm. “We believe it is unlikely that these will be resolved expeditiously because of long-standing weaknesses in the federal government’s budgetary process and a narrow Republican House majority.”
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