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U.S. House puts off default, votes to hike debt ceiling

AgenciesWashington, Oct. 13 — U.S. House of Representatives gave final approval on Tuesday to a Senate-passed bill, temporarily raising the government’s borrowing limit to $28.9 trillion, putting off the risk of default at least until early December.Democrats, who narrowly control the House, maintained party discipline to pass the hard-fought, $480 billion debt limit increase by 219-206. The vote was along party lines, with every yes from Democrats and every no from Republicans.President Joe Biden is expected to sign the measure into law this week, before Oct. 18, when the Treasury Department has estimated it would no longer be able to pay the nation’s debts without congressional action.Republicans insist Democrats should take respon...

October 13, 2021 at 11:03 am | Economic Affairs