Nita Lowey

Ryan won't commit to Treasury timetable for debt increase

House Speaker Paul Ryan said Wednesday that he won't commit to holding a vote to increase the government's borrowing authority this summer.

The Wisconsin Republican instead says the House will vote on such debt legislation before the government defaults — but not necessarily by an August deadline requested last month by Treasury Secretary Steven Mnuchin.

"We're going to address the debt ceiling before we hit the debt ceiling," Ryan told reporters. Some analysts think Mnuchin is being overly cautious when setting the August deadline.

Increasing the so-called debt limit is needed to avert a first-ever default on U.S. obligations such as interest payments and...