The USA Treasury has reduced its expectations for federal borrowing in the current quarter while reaffirming its previous cash balance predictions as of the end of March, assuming that Congress will take action to raise or suspend the debt ceiling. The Treasury stated in a statement on Monday that net borrowing is now expected to be 815 billion USD from January to March, slightly lower than the 823 billion USD predicted last October. The main reason for the downgrade is that cash at the beginning of the quarter is greater than previously expected. These estimated figures are part of what the USA debt management team, led by the new Secretary of the Treasury, Scott Basset, refers to as the quarterly Refinancing plan.