(TruthSeekerDaily) U.S. Congress will vote late on a last minute (Senate backed) deal to break the fiscal impasse in Washington and avert a National default on our debt.
With the government’s borrowing authority set to run out on Thursday, House of Representatives Speaker John Boehner said he would allow the deeply divided House to vote on the Senate plan for a short-term increase in the debt limit and a government reopening. It is expected to pass with mostly Democratic votes.
The agreement would extend U.S. borrowing authority until February 7, although the Treasury Department would have tools to temporarily extend its borrowing capacity beyond that date if Congress failed to act early next year.
The agreement also would fund government agencies until January 15, ending a partial government shutdown that began with the new fiscal year on October 1.
The Republican-controlled House and the Democrat-controlled Senate were expected to approve the fiscal deal later on Wednesday, clearing the way for Obama to sign it into law before the debt ceiling is reached late on Thursday. Source: Reuters