Temporary Debt Ceiling Raise Passes House of Representatives
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Photo: AP |
The House of Representatives passed legislation Wednesday to temporarily increase the country's debt ceiling. The measure passed 285 to 144 and will raise the country's debt limit until May 19 and allow the federal government to cover debts. The solution suggested by Republican Senators in the House of Representatives will remove the default risk and give time to discussion on US government’s budget in the next stage. Republican Senator Leader, a majority party of US Senate, Harry Reid said that Senate will soon pass the draft and immediately transfer to the Whitehouse for President Brack Obama approval.