Treasury Secretary Timothy Geithner has said that he will suspend investing into two large government pension funds.
This delays any breaching of the limit to 2 August.
Congress is currently negotiating an increase to the limit, without which the US risks defaulting on its debt.
"I have written to Congress on previous occasions regarding the importance of timely action to increase the debt limit in order to protect the full faith and credit of the United States and avoid catastrophic economic consequences for citizens," Mr Geithner said in a letter to Congress April, ratings agency Standard & Poor's downgraded its US credit rating outlook from stable to negative, increasing the likelihood that the rating could be cut within the next two years.
