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Home / World / Fitch: US to Face Multiple Fiscal Policy Challenges in 2025

Fitch: US to Face Multiple Fiscal Policy Challenges in 2025

Fitch: US to Face Multiple Fiscal Policy Challenges in 2025
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World January 7, 2025 18:35

united states - International credit rating agency Fitch Ratings warns that the United States will face significant fiscal policy challenges in 2025 related to debt ceiling, budget allocations, and tax cuts.

International credit rating agency Fitch Ratings has warned that the United States is facing important fiscal policy challenges this year, such as debt ceiling, budget allocations, and tax cuts. According to a statement from Fitch, it is reported that the US will face multiple fiscal policy challenges in 2025.

The statement mentions that the challenges related to debt ceiling, allocations, and tax cuts are emerging in an environment of large deficits and increasing debt burden. It is also emphasized in the statement that due to long-standing weaknesses in the federal government's budget process and the limited majority of Republicans in the House of Representatives, it is believed that these challenges are unlikely to be rapidly resolved.

It is reminded in the statement that the last suspension of the debt ceiling expired earlier this year, and it is estimated that the new debt limit of 36.1 trillion dollars will become binding between January 14-23. The temporary budget bill that came into effect in December is expected to provide financing to the government until March 14, and also the tax cuts implemented in 2017 are set to expire by the end of 2025.

The statement notes that based on previous events, it is assumed that the debt limit will be raised or suspended again. However, discussions about raising or suspending the debt limit are not expected to be resolved in early 2025 because of continuing significant disagreements on spending policies in Congress.

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