With new X date, clock starts ticking on reconciliation

Paging Hill Republicans: President Donald Trump’s legislative agenda now has a new, earlier and far more ominous deadline.

The “X date,” when the U.S. government will run out of the ability to borrow more money, is likely to fall in August or September, according to the newest projection from the Congressional Budget Office. This isn’t the Treasury Department’s official estimate, which is the most accurate, but it’s a good pulse on what the timeline looks like now.