U.S. risks default in July if debt ceiling isn’t raised

(CNN)– By mid-July, the United States may not be able to pay its bills on time unless Congress acts on the debt ceiling.

That’s according to a projection released on Monday, March 24, by the Bipartisan Policy Center.

The center said exactly when the so called x-date hits depends greatly on the revenue collected in the current tax season.

The strength of the economy, new revenue from tariffs, and changes in spending by Congress or reductions in the federal budget could also have an impact.