Treasury Secretary Janet Yellen warned congressional leaders Friday that the federal government will hit its debt limit as early as Jan. 14 unless Congress takes action or her department takes “extraordinary measures” to prevent a default.

Yellen’s letter indicates that the looming debt ceiling fight between Congress and the new administration will likely take place in the early months of next year, after President-elect Donald Trump failed to pass a provision to raise or eliminate the an to put an end to the debt ceiling. Expenditure statement for the year.

“The Treasury currently expects to reach the new limit between January 14th and 23rd. At this time, Treasury must begin taking extraordinary measures,” Yellen wrote in her letter to House Speaker Mike Johnson, R-La.

“I respectfully call on Congress to take action to protect the full faith and credit of the United States,” Yellen added.

The dates mentioned by Yellen could be postponed later, pushing the deadline further into 2025. The federal government can often operate for months under the “extraordinary measures” or accounting maneuvers that Yellen refers to in her letter.

The debt ceiling, or the total amount the government can borrow to meet its tax obligations, will be suspended until Jan. 1 following the passage of the Fiscal Responsibility Act of 2023 signed into law by President Joe Biden.

Once the U.S. reaches the debt limit, the government will no longer be able to borrow money and will technically default, leaving it unable to pay its bills unless the President and Congress negotiate a way to lift the borrowing limit.

With the government facing a definitively averted shutdown last week, Congress debated, among other things, raising or even eliminating the debt ceiling.

The national debt is around $36 trillion.

Democrats have long advocated for raising or eliminating the cap – a move traditionally opposed by Republicans, who in negotiations with Democrats have cited the growing debt and argued that federal spending is too high.

However, Trump appeared to embrace the Democrats’ argument for the first time this month, telling NBC News that he believes the debt ceiling should be abolished.

“The Democrats have said they want to get rid of it. If they want to get rid of it, I would take the lead,” Trump said.

He unsuccessfully demanded that Congress include a provision to extend or eliminate the debt ceiling in its year-end funding bill, threatening primary challenges against Republicans who voted to fund the government while ruling out a debt ceiling.

Ultimately, 170 Republicans opposed him, adding the fight over the debt ceiling to the new administration’s growing to-do list.