The rebound in the US Treasury's cash balance provides a respite for waiting for the debt deal to pass.

FAP, May 31 (FAP)-the amount of money the US government can use to pay bills has rebounded from its lowest point since 2017, providing more respite for the government before Congress finally passes the debt ceiling agreement. The Treasury's cash balance rose to $54.5 billion on Friday, according to data released on Tuesday. It is up from $38.3 billion last Thursday, but still down from $140 billion on May 12. The Treasury's cash balance has been under downward pressure recently as a result of a series of measures to avoid hitting the $31.4 trillion debt ceiling. Lawmakers in Washington have reached an agreement in principle to raise the debt ceiling, which currently restricts borrowing and reduces the Treasury's cash balance, but until Congress approves the agreement and the president signs it into law, the government must continue to manage borrowing and cash carefully.