House Passes Debt Ceiling Bill
Measure ensures that the United States will not default on its more than $17 trillion debt obligation until March 2015
Late Tuesday night, the House passed a measure to raise the debt ceiling. The measure passed the chamber 228 – 201. 28 Republicans joined with nearly all House Democrats to approve a “clean” extension of the government’s borrowing authority — one without strings attached — sending the measure to the Senate for a final vote, probably this week.
Senate Majority Leader Harry Reid (D-NV) has indicated that the Senate will vote on the legislation, which will likely pass. President Obama has also indicated that he will sign the bill into law, eliminating any possibility of the United States defaulting on its current debt obligations of more than $17 trillion.
The debt ceiling was last addressed in October 2013 when Senators Reid and McConnell (R-KY) were able to negotiate an end to the government shutdown, but did not address a long-term solution for the debt ceiling.
For more on the previous debt ceiling negotiations, please see NAHC Report, October 17, 2013.