The nation’s debt ceiling was reinstated Thursday, giving congressional Republicans yet another divisive challenge to contend with in 2025.

The new cohort of lawmakers could agree to once again suspend it. They could also get rid of the national debt cap altogether.

A new debt ceiling established this week sets up a coming debate about averting default. The parameters of that standoff are already making Donald Trump unhappy.

As the U.S. stock market wraps up a strong year with a slight downturn, major indices like the Dow Jones Industrial Average and S&P 500 have experienced notable monthly losses despite impressive annual gains.

A limit on borrowing by the U.S. government was reinstated on Thursday, a fresh headache for fixed-income investors ahead of the start of the second Trump administration.