The US Treasury ramped up its estimate for federal borrowing for the current quarter to account for a much smaller starting stockpile of cash than it had projected — a consequence of Congress having failed as yet to raise the federal debt limit.

The Treasury Department said in a statement Monday that it now estimates $514 billion in net borrowing for April through June, up from the $123 billion it had penciled in back in February. As is its usual practice, the Treasury had assumed in its previous projections that the debt ceiling — which kicked back in at the start of January — would be raised or suspended. But lawmakers are still working on the issue.