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House Passes Bill to Defuse Debt Crisis

24 Jan 2013

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Speaker of the House John Boehner, R-Ohio, and the House GOP leadership speak to reporters

AP

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, reports The Associated Press.

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.

Tags: Politics, World, Featured, House, Bill, Debt Crisis

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