Treasury announces plans to borrow $463 billion this quarter

WASHINGTON (AP) — The Treasury Department expects to borrow $463 billion in the current April-June quarter and $2.28 trillion for the full budget year, as the government finances continued pandemic relief measures. Treasury officials announced Monday that the $463 billion in borrowing for the current quarter represented a significant jump from a borrowing estimate for the current quarter of $95 billion made in February. The big increase of $368 billion was attributed to passage of a $1.9 trillion support measure that President Joe Biden pushed through Congress in March which provided another round of relief payments totaling $1,400 per individual plus other support including an extension of emergency unemployment benefits.