House votes to defuse debt limit crisis Associated Press Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Updated 10:36 am, Wednesday, January 23, 2013 WASHINGTON (AP) — The House overwhelmingly passed a bill Wednesday to permit the government to borrow enough money to avoid a first avoid default for at least four months, defusing a crisis looming next month and setting the stage for a springtime debate over taxes, spending and the deficit. The House passed the measure on a bipartisan 285-144 vote as majority Republicans back away from their previous demand that any increase in the government's borrowing cap be paired with an equivalent level of spending cuts. The measure also contains a provision that slaps at the Senate, which hasn't debated a budget since 2009, by withholding the pay for either House or Senate members if the chamber in which they serve fails to pass a budget plan. The idea driving the move by GOP leaders like Speaker John Boehner, R-Ohio, is to re-sequence a series of upcoming budget battles, taking the threat of a potentially devastating government default off the table and instead setting up a clash in March over automatic across-the-board spending cuts set to strike the Pentagon and many domestic programs. Boehner previously had insisted that any increase in borrowing authority to avoid lapses in payments to contractors, unemployment benefits or Social Security checks — and possibly even interest payments on U.S.
House Votes To Defuse Debt Limit Crisis
Top News Stories, San Francisco Chronicle
Wed, 01/23/2013 - 11:43am
Topics: copyright updated january washington ap the house republicans gop speaker john boehner r-ohio march social security u.s treasury pentagon press the house the house senate boehner defuse debt limit crisis votes to defuse debt limit spending avoid cuts government budget percent cut borrowing payments billion increase setting wednesday passed domestic dollar measure default
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