|
Post by bot on Feb 14, 2014 2:18:38 GMT -5
WASHINGTON (MarketWatch) - The Senate on Wednesday approved a House-passed bill to extend the U.S. borrowing limit. By a vote of 55 to 43, senators passed an extension through March 15, 2015 without any conditions or amendments. Passage followed a tense procedural vote that saw Senate Minority Leader Mitch McConnell vote to advance the legislation, which many Republicans oppose. The legislation now goes to President Barack Obama for signature. Obama and Democrats had insisted on a no-strings-attached increase. Republicans initially demanded conditions but dropped them after it became clear none would be met. Treasury Secretary Jacob Lew had told Congress that the debt limit would need to be raised before Feb. 27 or the U.S. would need to rely on its cash on hand and tax receipts to pay bills.
|
|