WASHINGTON,D.C- 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.
