House of Reps. Passes Debt Ceiling Increase - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

House of Reps. Passes Debt Ceiling Increase

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The GOP-controlled House has backed away from a battle over the government's debt cap and passed a measure extending Treasury's borrowing authority with overwhelming support from President Barack Obama's Democratic allies.
 
The 221-201 vote came hours after Speaker John Boehner announced that his fractured party would relent and not seek to add other items to the must-pass legislation.
 
Twenty-eight Republicans voted yes. The measure does not raise the debt limit by a set amount but would suspend it through March 15 of next year to allow Treasury to borrow the money it needs to pay bills like Social Security benefits, payments on government debt, and checks for federal workers.
 
Just Monday, Republicans suggested pairing the debt measure with legislation to roll back a recent cut in the inflation adjustment of pension benefits for working age military retirees.  (AP)

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