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                   US House to Vote on Debt Increase Measure

   by VOA News

   The U.S. House of Representatives will vote this week on a plan to
   increase the nation's borrowing authority, which is set to expire by
   the end of February.
   The plan was presented Monday to Republican lawmakers, who control the
   chamber. Republican leaders want to extend the government's borrowing
   authority for a full year, while repealing a reduction in the
   cost-of-living benefits for military retirees.
   House Republicans are proposing to extend current cuts in Medicare, the
   health insurance program for elderly Americans, in order to make up for
   reversing the cuts in military pensions. However, House Democrats are
   opposed to any plan to extend the government's borrowing authority on
   condition that other programs are reduced.
   Treasury Secretary Jacob Lew said that if the federal government's
   borrowing authority is not extended by February 27, it will run out of
   money to pay its bills and could default on its obligations.
   The vote is scheduled to be held Wednesday.
   The cut in military pensions was approved as part of a budget deal
   between the House and the Democratic-controlled Senate that would fund
   the federal government for the next two years.
   The agreement, reached in the aftermath of a 16-day government shutdown
   back in October, eliminated a set of automatic deep budget cuts in both
   domestic and military programs, known as the sequester.
   The Democratic-led Senate will consider a stand-alone bill that will
   reverse the cost-of-living benefits without tying it to any other
   proposal.
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   [1]http://www.voanews.com/content/us-house-to-vote-on-debt-increase-mea
   sure/1848744.html

References

   1. http://www.voanews.com/content/us-house-to-vote-on-debt-increase-measure/1848744.html