Treasury's Mnuchin says deal to raise U.S. debt ceiling getting closer

U.S. Secretary Steven Mnuchin said on Monday the administration and Congress are getting close to a deal on raising the U.S. debt ceiling and he has urged lawmakers to take action on the issue before their August recess.

"I think there is a preference on both parties, to the extent that we can agree on the debt ceiling and a budget deal, that that is the first choice, and I think that we're getting closer," Mnuchin told reporters during a briefing at the White House.

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