By Max Ehrenfreund and Damian Paletta, The Washington Post
Wealthy Americans and business owners are putting off paying taxes in the hopes that Republicans will deliver big cuts, leaving the government increasingly short on cash and accelerating its crash into the debt ceiling.
Federal data and anecdotes from tax advisers reveal a significant number of taxpayers are postponing cashing out on investments and other financial decisions, hoping to pay less later if the White House and congressional Republicans pass a huge reduction in tax rates.
The Treasury Department had $177 billion in its cash account as of Tuesday, a cash pile that it is drawing down because the government is limited in how much it can borrow by the debt ceiling.
Source: News Now/The Denver Post/Washington Post