Treasury's Bessent: May turn to short-term debt for US financing needs

WASHINGTON, July 3 (Reuters) - Treasury Secretary Scott Bessent said on Thursday that U.S. financing needs could increase after enactment of Republicans' sweeping tax cut and spending bill, with the Treasury likely to refill its coffers after debt ceiling constraints are lifted with increased initial issuance of short-term debt.

The legislation "also gets us away from this terrible debt ceiling dilemma, and because of that, we've had to constrain issuance," Bessent said on Bloomberg Television. "So it's likely that initially we will use bills to refill the Treasury general account."