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Starting in February, as result of new withholding tables issued by the IRS, employers will likely withhold between $10 billion and $15 billion less in federal income taxes from workers every month than previously estimated, the CBO noted.With less money projected to come in, the CBO now estimates that the special accounting measures Treasury has been using since December will be tapped out sometime in early March.Previously the agency had estimated Treasury’s extraordinary measures would be exhausted in late March or early April.Corporations are also expected to pay in an estimated $79 billion in new revenue this year because of a one time tax on foreign earnings included in the new tax law. But the CBO doesn’t expect that money will be recorded by Treasury before it exhausts its special accounting measures.Related: What’s in the GOP’s final tax planWhen those measures are fully depleted the so called X date the Treasury will only be able to pay the country’s bills with the cash it has on hand, plus the revenue coming in. That will not be nearly enough to pay everything the country owes in full and on time.If it comes to that, Treasury Secretary Steven Mnuchin would face a host of chaotic, legally questionable and technically difficult decisions of who to pay on time and who to put off until lawmakers act.

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