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January 24, 2013

House Votes to Suspend Debt Limit Until May 
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The Republican-controlled House has passed a measure to lift the debt
ceiling until May, avoiding a new showdown with President Obama at least
for a few months. The move would temporarily suspend the federal
government’s $16.4 trillion borrowing limit until May 18, without the
dollar-for-dollar spending cuts that Republicans have demanded. In a bid
to pressure the Senate, the legislation calls for withholding the
salaries of lawmakers if one of the chambers of Congress fails to pass a
budget blueprint by mid-April. The Senate is expected to approve the
measure this week.

 

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