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Squire provides complete and personalized tax management and planning solutions to meet your needs.

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Squire provides complete and personalized tax management and planning solutions to meet your needs.

U.S. hits statutory debt limit

The U.S. debt limit, which had been suspended since 2014, will be reinstated today. The Treasury Department will use “extraordinary measures” to make payments on the debt, but it’s estimated the cap will need to be raised sometime in the fall. It remains to be seen whether Republican lawmakers will attempt to pair another piece of legislation with a debt-ceiling increase.