Subscribe Register Login

Thursday, August 21, 2014, 6:58 p.m.
Top Picks - Capture Arkansas

House passes bill to defuse debt crisis

By The Associated Press

This article was published January 23, 2013 at 12:36 p.m.

— The House has passed a bill to permit the government to borrow enough money to avoid a first avoid default for at least four months, defusing a crisis looming next month and setting the stage for a springtime debate over taxes, spending and the deficit.

The House passed the measure by a 285-144 vote, a bipartisan showing on an initiative brought by majority Republicans.

The GOP is backing away from its previous demand that any increase in the government’s borrowing cap be paired with an equivalent level of spending cuts.

Senate Democratic Leader Harry Reid said the chamber would immediately move to advance the legislation to the White House, which has announced that Obama would sign it.

Comments on: House passes bill to defuse debt crisis

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

Search 828 jobs >

Top Picks - Capture Arkansas
Arkansas Online